Question 1

Discuss the various types and sources of input into the HRM/payroll cycle.

Accepted Answer

An HRM/payroll system relies on input fr

Question 2

A workforce inventory report

Accepted Answer

A) is filed each quarter to reconcile monthly tax payments with total tax liability for the quarter. 
B) is used in preparing labor-related reports for government agencies. 
C) is used for employee information and annual payroll reports. 
D) is used to document compliance with applicable regulations. 
A) is filed each quarter to reconcile monthly tax payments with total tax liability for the quarter. 
B) is used in preparing labor-related reports for government agencies. 
C) is used for employee information and annual payroll reports. 
D) is used to document compliance with applicable regulations.

Question 3

For the payroll register below,all the following data entry controls would be useful except

Accepted Answer

A) Validity check on Fed. Tax. 
B) Sequence check on Employee No. 
C) Limit check on Hours. 
D) Field check on Pay Rate. 
A) Validity check on Fed. Tax. 
B) Sequence check on Employee No. 
C) Limit check on Hours. 
D) Field check on Pay Rate.

Question 4

Because many HRM / payroll master databases typically contain only descriptive information (such as which employees possess which skills),many firms have deployed ________ to more effectively leverage employees knowledge and skills.

Accepted Answer

A) relational databases 
B) knowledge management systems 
C) talent management systems 
D) cardinality systems 
A) relational databases 
B) knowledge management systems 
C) talent management systems 
D) cardinality systems

Question 5

The sales department administrative assistant has been assigning phone order sales to her brother-in-law,a company sales person.Company policy is to pay commissions only on orders directly received by sales people,not on orders received over the phone.The resulting fraudulent commission payments might best have been prevented by requiring that

Accepted Answer

A) sales commission statements be supported by sales order forms signed by the customer and approved by the sales manager. 
B) sales order forms be prenumbered and accounted for by the sales department manager. 
C) sales orders and commission statements be approved by the accounting department. 
D) disbursement vouchers for commission payments be reviewed by the internal audit department and compared to sales commission statements and sales orders. 
A) sales commission statements be supported by sales order forms signed by the customer and approved by the sales manager. 
B) sales order forms be prenumbered and accounted for by the sales department manager. 
C) sales orders and commission statements be approved by the accounting department. 
D) disbursement vouchers for commission payments be reviewed by the internal audit department and compared to sales commission statements and sales orders.

Question 6

The threat of violation of employment laws relates directly to which activity?

Accepted Answer

A) Payroll processing. 
B) The collection employee time data. 
C) Hiring and recruiting. 
D) Benefit processing. 
A) Payroll processing. 
B) The collection employee time data. 
C) Hiring and recruiting. 
D) Benefit processing.

Question 7

A "zero balance check" refers to which of the following control procedures?

Accepted Answer

A) The ACH clearing account shows a zero balance once all entries are posted. 
B) cross-footing the payroll register 
C) The payroll clearing account shows a zero balance once all entries are posted. 
D) trial balance showing that debits equal credits 
A) The ACH clearing account shows a zero balance once all entries are posted. 
B) cross-footing the payroll register 
C) The payroll clearing account shows a zero balance once all entries are posted. 
D) trial balance showing that debits equal credits

Question 8

Executive immersion experiences are important because

Accepted Answer

A) CEOs often have no idea what rank-and-file employees do on a daily basis. 
B) employees who have positive attitudes contribute to increasing company profits. 
C) many employees feel upper management is out of touch. 
D) it is important for organizations to take social responsibility seriously. 
A) CEOs often have no idea what rank-and-file employees do on a daily basis. 
B) employees who have positive attitudes contribute to increasing company profits. 
C) many employees feel upper management is out of touch. 
D) it is important for organizations to take social responsibility seriously.

Question 9

An effective way an organization can eliminate paper paychecks while maintaining adequate accounting records is to

Accepted Answer

A) pay in cash only. 
B) pay with money orders. 
C) use direct deposit. 
D) use Electronic Funds Transfer. 
A) pay in cash only. 
B) pay with money orders. 
C) use direct deposit. 
D) use Electronic Funds Transfer.

Question 10

Involving accountants in executive compensation plans is often especially helpful

Accepted Answer

A) in keeping track of the executive compensation plan. 
B) in identifying the appropriate metrics to use when linking compensation to performance. 
C) in reducing the total amount of compensation paid to executives. 
D) in suggesting the appropriate amount of compensation executives should be paid. 
A) in keeping track of the executive compensation plan. 
B) in identifying the appropriate metrics to use when linking compensation to performance. 
C) in reducing the total amount of compensation paid to executives. 
D) in suggesting the appropriate amount of compensation executives should be paid.

Question 11

Which of the following documents would be likely to yield the greatest cost saving by converting from paper to electronic?

Accepted Answer

A) Payroll register. 
B) Employee's earnings statement. 
C) Deduction register. 
D) Time card. 
A) Payroll register. 
B) Employee's earnings statement. 
C) Deduction register. 
D) Time card.

Question 12

Which of the following controls can minimize the threat of errors in processing payroll?

Accepted Answer

A) Redepositing unclaimed paychecks and investigating cause. 
B) Issuing earnings statements to employees. 
C) Using biometric authentication. 
D) Conducting criminal background investigation checks of all applicants for finance related positions. 
A) Redepositing unclaimed paychecks and investigating cause. 
B) Issuing earnings statements to employees. 
C) Using biometric authentication. 
D) Conducting criminal background investigation checks of all applicants for finance related positions.

Question 13

Many companies offer their employees a "cafeteria" approach to voluntary benefits in which employees can pick and choose the benefits they want.This plan is normally called a(n)

Accepted Answer

A) elective plan. 
B) menu options benefit plan. 
C) flexible benefit plan. 
D) buffet plan. 
A) elective plan. 
B) menu options benefit plan. 
C) flexible benefit plan. 
D) buffet plan.

Question 14

What factors should be considered in outsourcing payroll to a payroll service bureau? Discuss the advantages and disadvantages of using a payroll service bureau to process a payroll.

Accepted Answer

The following questions should be consid

Question 15

Direct deposit of employee paychecks is one way an organization can improve efficiency and reduce payroll-processing costs.Which statement regarding direct deposit is false?

Accepted Answer

A) The cashier does not authorize the transfer of funds from the organization's checking account to a payroll checking account. 
B) The cashier does not have to sign employee paychecks. 
C) Employees who are part of a direct deposit program receive a copy of their paycheck indicating the amount deposited. 
D) Employees who are part of a direct deposit program receive an earnings statement on payday rather than a paper check. 
A) The cashier does not authorize the transfer of funds from the organization's checking account to a payroll checking account. 
B) The cashier does not have to sign employee paychecks. 
C) Employees who are part of a direct deposit program receive a copy of their paycheck indicating the amount deposited. 
D) Employees who are part of a direct deposit program receive an earnings statement on payday rather than a paper check.

Question 16

Which type of payroll report contains information such as the employees' gross pay,payroll deductions,and net pay in a multicolumn format?

Accepted Answer

A) Payroll register. 
B) Deduction register. 
C) Employee earnings statement. 
D) Federal W-4 form. 
A) Payroll register. 
B) Deduction register. 
C) Employee earnings statement. 
D) Federal W-4 form.

Question 17

Identify the following item that should contribute to the efficiency of a payroll system.

Accepted Answer

A) Segregation of check distribution from payroll duties. 
B) Prompt redeposit of unclaimed paychecks. 
C) Use a separate payroll bank account. 
D) Direct deposit of checks. 
A) Segregation of check distribution from payroll duties. 
B) Prompt redeposit of unclaimed paychecks. 
C) Use a separate payroll bank account. 
D) Direct deposit of checks.

Question 18

Which control would be most appropriate to address the problem of inaccurate payroll processing?

Accepted Answer

A) Segregation of duties: HRM department updates master data, but only payroll department issues paychecks. 
B) Redepositing unclaimed paychecks and investigating cause. 
C) Cross-footing of the payroll register. 
D) An imprest payroll checking account. 
A) Segregation of duties: HRM department updates master data, but only payroll department issues paychecks. 
B) Redepositing unclaimed paychecks and investigating cause. 
C) Cross-footing of the payroll register. 
D) An imprest payroll checking account.

Question 19

Companies that specialize in processing payroll are known as

Accepted Answer

A) paycheck distribution companies. 
B) payroll service bureaus. 
C) professional employer organizations. 
D) semi-governmental organizations. 
A) paycheck distribution companies. 
B) payroll service bureaus. 
C) professional employer organizations. 
D) semi-governmental organizations.

Question 20

A report of income paid to independent contractors is called

Accepted Answer

A) form W-2. 
B) form W-3. 
C) form 1099-Misc. 
D) form 941. 
A) form W-2. 
B) form W-3. 
C) form 1099-Misc. 
D) form 941.

Exam 15: The Human Resources Management and Payroll Cycle

Discuss the various types and sources of input into the HRM/payroll cycle.

A workforce inventory report

For the payroll register below,all the following data entry controls would be useful except

Because many HRM / payroll master databases typically contain only descriptive information (such as which employees possess which skills),many firms have deployed ________ to more effectively leverage employees knowledge and skills.

The threat of violation of employment laws relates directly to which activity?

A "zero balance check" refers to which of the following control procedures?

Executive immersion experiences are important because

An effective way an organization can eliminate paper paychecks while maintaining adequate accounting records is to

Involving accountants in executive compensation plans is often especially helpful

Which of the following documents would be likely to yield the greatest cost saving by converting from paper to electronic?

Which of the following controls can minimize the threat of errors in processing payroll?

Many companies offer their employees a "cafeteria" approach to voluntary benefits in which employees can pick and choose the benefits they want.This plan is normally called a(n)

What factors should be considered in outsourcing payroll to a payroll service bureau? Discuss the advantages and disadvantages of using a payroll service bureau to process a payroll.

Direct deposit of employee paychecks is one way an organization can improve efficiency and reduce payroll-processing costs.Which statement regarding direct deposit is false?

Which type of payroll report contains information such as the employees' gross pay,payroll deductions,and net pay in a multicolumn format?

Identify the following item that should contribute to the efficiency of a payroll system.

Which control would be most appropriate to address the problem of inaccurate payroll processing?

Companies that specialize in processing payroll are known as

A report of income paid to independent contractors is called

Conceptual Foundations of Accounting Information Systems

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Production Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

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