Question Excerpt From National Payroll Week
Q.1) When was National Payroll Week created?
A. 1971
B. 1986
C. 1999
D. 1996
Q.2) How many states do not have Individual Income Tax?
A. 3
B. 5
C. 7
D. 9
E. None of the Above
Q.3) What was the first Federal Minimum Wage?
A. .25
B. .83
C. 1.10
D. 4.15
Q.4) When were the words “In God we Trust” first printed on U.S. paper currency?
A. 1864
B. 1912
C. 1932
D. 1957
Q.5) Is Vacation, Sick and/or Holiday pay guaranteed under FLSA?
A. Yes
B. No
C. Only Vacation
Q.6) How was Social Security Tax created?
A. Social Security began during the Great Depression to assist the elderly. President Franklin D. Roosevelt signed the original Social Security Act into law in 1935 to combat unemployment and poverty and provide benefits for surviving family members. The original provisions of the act excluded many service categories, including agricultural and domestic workers, but today Social Security benefits are paid for all industries.
B. Social Security Tax was created to offset the government debt.
C. None of the Above
Q.7) According to some of the first paystubs, how were ancient Egyptians paid for their labor?
A. Gold
B. Cloth
C. Beer
D. Silver
Q.8) How many wage earners are working in America?
A. 156 million
B. 112 million
C. 205 million
D. 239 million
Q.9) How many accountants are hired each year to help with taxes in the U.S.?
A. 502,000
B. 80,000
C. Over 1,000,000
D. 740,000
Q.10) What percent of the annual revenue of the U.S. Treasury is collected, reported, and deposited from payroll?
A. 81.2%
B. 34.5%
C. 50.7%
D. 68.9%
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Payroll Facts Answer Sheet
Q1. D
Q2. C
Q3. A
Q4. D
Q5. B
Q6. A
Q7. C
Q8. A
Q9. C
Q10. D