Question
4. Which of the following is not one of the business functions for the payroll and personnel cycle? A) Payment of payroll B) Timekeeping
4. Which of the following is not one of the business functions for the payroll and personnel cycle? A) Payment of payroll B) Timekeeping and payroll preparation C) Reconciliation of payroll account D) Human resources and employment 5. Which department should be authorized to add and delete employees from the payroll or change pay rates and deductions? A) The supervising department B) The accounting department C) The human resources department D) The treasurer's department 6. Which of the following best describes the systems of internal control for payroll for large companies? A) Loosely structured but well controlled B) Loosely structured and loosely controlled CHighly structured and well controlled D) Highly structured but loosely controlled 7. No individual with access to timecards, payroll records, or checks should also be permitted access to A) the computer B) job time tickets C) personnel records. D) the canceled check files XA surprise payroll payoff in which employees must pick-up and sign for their paycheck is one means of A) identifying employees who do not have proper work credentials B) establishing a tightly controlled, fraud-free work environment C) testing for nonexistent employees D) identifying employees who have not submited proper W-2 forms 9. Verification of the legitimacy of year-end unpaid bonuses to officers and employees can be accomplished by comparing the recorded accrual to the amount A) in the expense account B) used in the prior period C) authorised in the minutes of the board D) paid in the subsequent period 10. An auditor is vouching a sample of hourly employees from the payroll master file so approved time clock or time sheet data in order to provide evidence that A) employees work the number of hours for which they are paid B) payments are made at the contractual rate C) product cost information is accurate. D) segregation of duties is present between the payroll function and the payment function for cash disbursements.
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