Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Why is the ownership assertion a key risk in the payroll process? Select one: a. The year-end accruals are small so they may be incomplete.

image text in transcribed
Why is the ownership assertion a key risk in the payroll process? Select one: a. The year-end accruals are small so they may be incomplete. b. Payroll duties cannot easily be segregated in most businesses c. The payroll process involves a high volume of small payments to individuals. d. Evidence from government income tax reports is often audited

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

Step: 3

blur-text-image

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

Advanced Accounting

Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony

9th Edition

0131851225, 978-0131851221

More Books

Students also viewed these Accounting questions

Question

What is the main advantage to this tactic?

Answered: 1 week ago

Question

What administrative cost items are associated with this tactic?

Answered: 1 week ago

Question

What is the full-cost budget?

Answered: 1 week ago