APA Updated CPP-Remote Exam Questions and Answers by giovanna

Cost accounting is used to track, record, and analyze costs associated with the products or services a company provides. It includes forecasting project costs and revenues. It’s distinct from general financial accounting and focuses on internal decision-making.

U.S. Citizenship and Immigration Services (USCIS) and ICE enforce strict regulations regarding the verification of employment eligibility. Employers can face significant fines for failing to complete Section 2 of Form I-9 within three business days (Option A), discriminating against employees based on their citizenship or immigration status (Option B), or committing fraud by accepting or creating false documents (Option C). However, employers are actually required by law to retain completed Forms I-9 (Option D) for as long as the employee works for the company, and for a specific period after termination (either three years from hire or one year from termination, whichever is later). Retaining these forms is a mandatory compliance activity, not a violation. Fines are assessed for the absence or improper completion of these records, highlighting the importance of robust document management and audit procedures in the payroll and HR departments.

Form W-2 is used to report wages, tips, and other compensation paid to an employee. This includes taxable items like cash awards, prizes, and reimbursements made under a non-accountable plan (which are treated as supplemental wages). Additionally, while most moving expenses are now taxable, any payments made directly to employees for such expenses must be reported. However, child support and garnishments (Option B) are post-tax deductions. While these are tracked in the payroll system to ensure the employer complies with court orders, they do not constitute income to the employee and are not reported on Form W-2. Their presence in payroll records serves only to document that the employer fulfilled its legal obligation to withhold and remit the funds to the appropriate agency or creditor.

The Age Discrimination in Employment Act (ADEA) requires employers to maintain specific personnel and payroll records. Generally, payroll records must be kept for three years, and personnel records (such as applications and job descriptions) for one year. However, if an employer is notified that a charge of discrimination has been filed or that an action has been brought by the Equal Employment Opportunity Commission (EEOC) or the employee, the record-keeping requirements change. In such cases, the employer is legally obligated to retain all " pertinent records " relating to the charge or action—such as performance evaluations, time records, and correspondence—until the final disposition of the alleged action (Option D). This ensures that all relevant evidence is preserved for the legal process. Failing to maintain these records during an active investigation or lawsuit can result in severe legal penalties and negative inferences in court.