payroll fundamentals1

II. Choose the best answer 1. Efficiency ratios look at how well a company manages its assets and uses them to generate revenue and cash flow and it incorporates the following: a) Receivable turnover b) Asset turnover c) Inventory turnover d) Days in inventory e) All of the above Internal Controls may help organizations through various ways. The main ideas include: a) It would safeguard assets of the organization b) It enables operational efficiency of the organization c) It promotes accountability and responsibility d) None of the above e) All of the above One of the following is not true for control procedures of cash disbursements: a) Require approved documents to support all checks issued b) Effecting cash payments or disbursements from cash collected e) Make all disbursements by check or from petty cash d) Mark void checks and retain them to prevent unauthorized use. e) All of the above