Payroll Manual & Computerised
Assignment 2 a – Multiple Choice Questionnaire
Please answer all questions - .25 marks per Question
- Taxable income
a)Refers to the base upon which an income tax system imposes tax. ☐
b)Is money an employee earns on a weekly basis. ☐
c)Is money given to someone as a gift. ☐
d)Refers to surplus income left after an employee does their weekly shopping. ☐
- Gross pay is
a)Money an employee earns on a weekly basis. ☐
b)Money given to someone as a gift. ☐
c)Employee’s pay of any kind and may consist of up to 30 components. ☐
d)Money an employee earns after tax is deducted. ☐
- Net pay is
a)The amount of an employee gross pay less any ordinary pension contributions made by the employee to the employers scheme and contributions to permanent health benefit schemes. ☐
b)Take home pay. ☐
c)Money an employee earns after tax is deducted. ☐
d)Money an employee earns on a weekly basis. ☐
- Salary is
a)Money an employee, usually a manager receives each month. ☐
b)Is a variable amount paid to an employee earned by an employee for work done.☐
c)Is a fixed amount paid to an employee earned by an employee for work done.☐
d)Part of an employee’s pay that is not taxed. ☐
- Statutory Deductions is
a)A fixed deduction from an employee’s pay. ☐
b)An amount of money taken from an employee’s gross pay and over which he or she has no control. ☐
c)An amount of money taken from an employee’s gross pay and over which he or she has full control. ☐
d)A deduction made to a health benefit scheme. ☐
- No-Statutory Deductions
a)Money an employee earns on a weekly basis. ☐
b)A voluntary deduction from pay agreed between the employee and the employer and deducted after all statutory deductions. ☐
c)A mandatory deduction from pay agreed between the employee and the employer and deducted after all statutory deductions. ☐
d)A fixed deduction from an employee’s pay. ☐
- Public Sector Employee is
a)Someone who is employed by the government or by a government agency. ☐
b)Someone who is employed by a large company.☐
c)Someone who is self-employed.☐
d)Someone who is employed by the government or by a non-government agency. ☐
- Private Sector Employee
a)Someone who is employed by a large company. ☐
b)Someone who is self-employed. ☐
c)Someone who is employed by the government or by a government agency. ☐
d)Someone who works in any non-government employment. ☐
- Superannuation (pension) is
a)A large increase in annual salary. ☐
b)A deduction in annual salary.☐
c)A regular payment made into a fund by an employee toward a future pension.☐
d)A non-regular payment made into a fund by an employee toward a future pension.☐
- Tax credits is
a)An amount of money that can be offset against a tax liability. ☐
b)An amount of money taken from an employee’s gross pay and over which he or she has no control. ☐
c)An amount of money that cannot be offset against a tax liability. ☐
d)A fixed deduction from an employee’s pay. ☐
- Tax Bands
a)A fixed amount of taxable income that is taxed at the standard rate of tax. ☐
b)A variable amount of taxable income that is taxed at the standard rate of tax. ☐
c)An amount of money that cannot be offset against a tax liability. ☐
d)A wristband worn by public service employees. ☐
- Standard rate cut off point (SRCOP) is
a)An amount an employee can earn before they are made permanent in a job. ☐
b)The amount of income up to which point tax is charged at the standard rate. ☐
c)The amount of income an employee can earn before they pay PRSI at a higher rate. ☐
d)The amount of income up to which point tax is charged at the higher rate. ☐
- Gross tax is
a)The amount of tax deducted before a tax credit is applied. ☐
b)Is the amount of tax deducted in a calendar year.☐
c)The amount of tax deducted after a tax credit is applied. ☐
d)The amount of tax deducted in a calendar month. ☐
- Net tax is
a)The amount of tax deducted after a tax credit is applied. ☐
b)The amount of tax deducted in a calendar month. ☐
c)The amount of tax deducted before a tax credit is applied. ☐
d)The amount of tax deducted in a calendar year. ☐
- PAYE stand for
a)Pay as You Eat ☐
b)Pay at Your Earliest☐
c)Pay as you Earn☐
d)Park at your Entrance☐