The community feels that secondary school education Is a necessity and the lacl: of education causes a number of social problems. As a result, the local school board decided to take action to reverse the rising dropout rate. The board has chosen to provide funds to encourage students to stay in school and earn a high school diploma. The idea is to treat secondary education like a job and pay students. However. the board was unable to agree on details for implementing this new plan. As a result, you are hired to design a system to compensate students for staying in school and earning a diploma. 1When you build a compensation plan, make sure it meets the following general control objectives for the payroll cycle: All transactions are properiy authorized. Everyone Is assigned to do productive work, and they do it elflciently and effectively. All transactions are recorded and processed accurately. Accurate records are kept. All disbursements are correct. YOU are asked to make a proposal that addresses these ve questions: a] How should students be compensated leg, for attendance. grades]? b} How and by whom will payments be authorized? c] How are payments pi'ocessed? d) HOW should payments be made leg, cash or other means)? e] when will the payment be made