Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

18. Why would an organization require the paymaster to deliver all unclaimed paychecks to the internal audit department? a. to detect a phantom employee for

image text in transcribed
18. Why would an organization require the paymaster to deliver all unclaimed paychecks to the internal audit department? a. to detect a "phantom employee" for whom a check was produced b. to prevent an absent employee's check from being lost! C. to avoid paying absent employees for payday! d. to prevent the paymaster from cashing unclaimed checks 19. Which of the following is not a reasonable control for fixed assets? a. Proper authorization is required for acquisition and disposal of fixed assets. b. Fixed asset records show the location of each asset. C. Fully depreciated assets are immediately disposed of. d. Depreciation policies are in writing

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Finesse An Accounting Guide For Entrepreneurs

Authors: TaShara Ramese

1st Edition

1732510903, 978-1732510906

More Books

Students also viewed these Accounting questions

Question

What are some potential interview problems?

Answered: 1 week ago

Question

Give your thoughts about audit expectation gap for the future.

Answered: 1 week ago