Question: Proper internal control over the cash payroll function would mandate which of the following? a. The payroll clerk should fill the envelopes with cash and

Proper internal control over the cash payroll function would mandate which of the following?

a. The payroll clerk should fill the envelopes with cash and a computation of the net wages.

b. Unclaimed pay envelopes should be retained by the paymaster.

c. Each employee should be asked to sign a receipt.

d. A separate checking account for payroll be maintained.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Model Based Testing For Embedded Systems Questions!

Q:

Proper internal control over the cash payroll function would mandate which of the following? a. The payroll clerk should fill the envelopes with cash and a computation of the net wages. b. Unclaimed...

Q:

Proper internal control over the cash payroll function would mandate which of the following? a. The payroll clerk should fill the envelopes with cash and a computation of the net wages. b. Unclaimed...

Q:

Proper internal control over the cash payroll function would mandate which of the following? a. The payroll clerk should fill the envelopes with cash and a computation of the net wages. b. Unclaimed...

Q:

Effective control over the cash payroll function would mandate which of the following? a. The payroll clerk should fill the envelopes with cash and a computation of the net wages. b. Unclaimed...

Q:

Effective control over the cash payroll function would mandate which of the following? Multiple Choice The paymaster should be retain unclaimed payroll envelopes. Each employee should be asked to...

Q:

2 3 Effective control over the cash payroll function would mandate which of the following? Multiple Choice 0 0 : 1 9 : 4 1 The payroll clerk should fill the envelopes with cash and include a...

Q:

Explain the relevance of the procedural role of the forensic accountant in this specific fraud examination. Outline which fraud schemes could impact the organization during this specific fraud...

Q:

The topic is under Audit and Assurance . Tq You are an audit manager of Love \& Co and are in the process of reviewing the systems testing completed on the payroll cycle of Warm Industries Co (Warm),...

Q:

identify and explain five examples where executives or directors faced moral hazards and did not deal with them ethically globa ow ied on lendin to be applied on a gh ns nd ie asis The accounting...

Q:

1. It would be appropriate for the payroll accounting department to be responsible for which of the following functions? a. Approving employee time records b. Maintaining records of employment,...

Q:

Find the following areas under a normal distribution curve with = 20 and = 4. a. Area between x = 20 and x = 27 b. Area from x = 23 to x = 26 c. Area between x = 9.5 and x = 17

Q:

Pan Corporation purchased a 75 percent interest in Soy Corporation in the open market on January 1, 2012, for $690,000. A summary of Soy's stockholders' equity on December 31, 2011 and 2012, is as...

Q:

Internal controls in the sales / collection process include: Group of answer choices Adequate supervision. Pre - numbered documents. All of these. Bank reconciliations.

Q:

What do you think is your strongest component of cultural intelligence? Your weakest? How would you go about shoring up your weaknesses?