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1. An account in the chart of accounts has the number 7111. Assuming a hierarchical coding system is used, which of the following does the

1. An account in the chart of accounts has the number 7111. Assuming a hierarchical coding system is used, which of the following does the "7" likely represent?

Sales region
Employee of the month
Revenues

Merchandise sales

2. From which document does information regarding the distribution of labor charges to jobs in process or other expense accounts primarily originate?

attendance time records
job time records
employee paychecks
purchase orders

3. A control that can ensure that receiving clerks are not influenced by quantity information while actually counting incoming goods is to:

send a "blind" copy of the purchase order to receiving
establish "blanket order" in purchasing
establish a "tickler" file for completed purchase orders
send copies of a receiving report to accounts payable

4. One of the control goals for payroll is to preserve the security of cash. Which of the following control plans achieves this?

pre formatted time input screens
prepare timely payroll tax reports
independent reconciliation of payroll bank account
automated data entry of time data

5. All of the following statements regarding the payroll process are true EXCEPT:

it should not be outsourced because it usually represents a key competency of the business
it provides support for repetitive routines
a company can reduce costs substantially by switching from bi-weekly to monthly payroll
in addition to amounts paid to employees, it keeps track of payroll taxes and employee benefits

6. When describing the mode of processing that characterizes most payroll processing, choose the best answer

periodic mode
dynamic mode
JIT mode
immediate mode

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