Question: Payroll involves preparing employee paychecks. Payroll involves paying independent contractors as well as employees. Payroll involves withholding the appropriate amount in taxes. O Payroll is

 Payroll involves preparing employee paychecks. Payroll involves paying independent contractors as

Payroll involves preparing employee paychecks. Payroll involves paying independent contractors as well as employees. Payroll involves withholding the appropriate amount in taxes. O Payroll is paying the company's share of payroll taxes. QUESTION 32 In QBO, Single Time Activity is one way to track time. It is used to: invoice customers for billable time related to specific projects. time one activity and enter the time data. The time is then recorded on the employee's weekly timesheet. o enter time billable to specific customers. Then time is added to the customer's invoice. o enter time worked by each specific employee during a week QUESTION 33 What is the appropriate status of individual performing work matched with tax form? Employee - Paycheck - Form 1099-MISC; Owner - Dividend/Distribution - Owner's tax return; Contractor - Vendor Payment - Form W-2. Owner and employee - Paycheck - Form W-2; Contractor - Vendor Payment - Form 1099-MISC. Employee - Vendor Payment - Form W-2; Owner - Dividend/Distribution - Owner's tax return; Contractor - Paycheck - Form 1099-MISC. Employee - Paycheck - Form W-2; Owner - Dividend/Distribution - Owner's tax return; Contractor - Vendor Payment - Form 1099-MISC. QUESTION 34 Why is the status of an individual performing work very important to QBO Time Tracking? The status of an employee determines whether an individual receives a paycheck, a vendor payment or an owner withdrawal for the work they pu O QBO tracks time for employees and does not track time for work performed by subcontractors or owners. The status of an employee refers to full-time or part-time employees. Part-time employees receive a MISC form for their work vs. full-time emplo paycheck. QBO will transfer employee time to sales invoices, however, subcontractors and owners will have to be added to sales invoices manually

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