Question 1

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 2

What is the difference between a payroll service bureau and a professional employer organization?

Accepted Answer

A payroll service bureau is a company th

Question 3

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 4

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 5

The following control can reduce the distribution of fraudulent paychecks.

Accepted Answer

A)  Have internal audit investigate unclaimed paychecks. 
B)  Allow department managers to investigate unclaimed paychecks. 
C)  Immediately mark "void" across all unclaimed paychecks. 
D)  Match up all paychecks with time cards. 
A)  Have internal audit investigate unclaimed paychecks. 
B)  Allow department managers to investigate unclaimed paychecks. 
C)  Immediately mark "void" across all unclaimed paychecks. 
D)  Match up all paychecks with time cards.

Question 6

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

Accepted Answer

A)  concurrent update control 
B)  cross-footing balance test 
C)  mathematical accuracy test 
D)  hash total on Employee No. 
A)  concurrent update control 
B)  cross-footing balance test 
C)  mathematical accuracy test 
D)  hash total on Employee No.

Question 7

Falk Noam is the internal auditor for Matan Incorporated.Before investigating the HRM / payroll cycle at Matan,Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes.For strongest segregation of duties,the ________ should distribute paychecks.

Accepted Answer

A)  accounts payable department 
B)  cashier 
C)  internal audit department 
D)  external auditor 
A)  accounts payable department 
B)  cashier 
C)  internal audit department 
D)  external auditor

Question 8

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 9

Batch processing continues to be widely used to process payroll transactions.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is a control that can be implemented to help prevent paychecks being issued to a "phantom" or "ghost" employee?

Accepted Answer

A)  The cashier should sign all payroll checks. 
B)  Sequentially prenumber all payroll checks. 
C)  Use an imprest account to clear payroll checks. 
D)  Paychecks should be physically distributed by someone who does not authorize time data or record payroll. 
A)  The cashier should sign all payroll checks. 
B)  Sequentially prenumber all payroll checks. 
C)  Use an imprest account to clear payroll checks. 
D)  Paychecks should be physically distributed by someone who does not authorize time data or record payroll.

Question 11

Explain benefits to companies and to employees of using electronic direct deposit for payroll.

Accepted Answer

Direct deposit of paychecks provide a sa

Question 12

Which of the following is not a benefit of using a payroll service bureau or a professional employer organization?

Accepted Answer

A)  freeing up of computer resources 
B)  increased internal control 
C)  reduced costs 
D)  wider range of benefits 
A)  freeing up of computer resources 
B)  increased internal control 
C)  reduced costs 
D)  wider range of benefits

Question 13

A payroll clearing account is used to

Accepted Answer

A)  check the accuracy of payroll costs. 
B)  speed up payroll transaction processing. 
C)  reduce the transaction costs associated with payroll transaction processing. 
D)  eliminate the need to manually record payroll transactions. 
A)  check the accuracy of payroll costs. 
B)  speed up payroll transaction processing. 
C)  reduce the transaction costs associated with payroll transaction processing. 
D)  eliminate the need to manually record payroll transactions.

Question 14

Knowledge management systems (KMS)permit organizations to

Accepted Answer

A)  store employee solutions to specific problems in a shared database. 
B)  learn from individuals external to the organization. 
C)  perform background checks on potential employees. 
D)  gain competitive business intelligence on competitors. 
A)  store employee solutions to specific problems in a shared database. 
B)  learn from individuals external to the organization. 
C)  perform background checks on potential employees. 
D)  gain competitive business intelligence on competitors.

Question 15

Why are accurate cumulative earnings records important?

Accepted Answer

Accurate records of cumulative earnings

Question 16

The most vital control in preventing unauthorized changes to the payroll master file is

Accepted Answer

A)  hiring totally honest people to access and make changes to this file. 
B)  segregation of duties between the preparation of paychecks and their distribution. 
C)  segregation of duties between the authorization of changes and the physical handling of paychecks. 
D)  having the controller closely review and then approve any changes to the master file. 
A)  hiring totally honest people to access and make changes to this file. 
B)  segregation of duties between the preparation of paychecks and their distribution. 
C)  segregation of duties between the authorization of changes and the physical handling of paychecks. 
D)  having the controller closely review and then approve any changes to the master file.

Question 17

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)  Resources, Events, and Agents (RE
A)  databases 
D)  cardinality systems 
A)  relational databases 
B)  knowledge management systems 
C)  Resources, Events, and Agents (RE
A)  databases 
D)  cardinality systems

Question 18

Falk Noam is the internal auditor for Matan Incorporated.Before investigating the HRM / payroll cycle at Matan,Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes.For strongest segregation of duties,the ________ should periodically observe the paycheck distribution process.

Accepted Answer

A)  accounts payable department 
B)  cashier 
C)  internal audit department 
D)  external auditor 
A)  accounts payable department 
B)  cashier 
C)  internal audit department 
D)  external auditor

Question 19

The HRM department should immediately delete records of employees who quit to prevent other employees from assuming their identities.

Accepted Answer

A) True 
 B)False

Question 20

The average annual management salary at Iyov Management is $80,000.If the average turnover rate for employees is ten per year,what is the approximate average annual cost of turnover?

Accepted Answer

A)  $80,000 
B)  $400,000 
C)  $800,000 
D)  $1,200,000 
A)  $80,000 
B)  $400,000 
C)  $800,000 
D)  $1,200,000

Exam 15: The Human Resources Management and Payroll Cycle

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

What is the difference between a payroll service bureau and a professional employer organization?

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?

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

The following control can reduce the distribution of fraudulent paychecks.

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

Falk Noam is the internal auditor for Matan Incorporated.Before investigating the HRM / payroll cycle at Matan,Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes.For strongest segregation of duties,the ________ should distribute paychecks.

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

Batch processing continues to be widely used to process payroll transactions.

Which of the following is a control that can be implemented to help prevent paychecks being issued to a "phantom" or "ghost" employee?

Explain benefits to companies and to employees of using electronic direct deposit for payroll.

Which of the following is not a benefit of using a payroll service bureau or a professional employer organization?

A payroll clearing account is used to

Knowledge management systems (KMS)permit organizations to

Why are accurate cumulative earnings records important?

The most vital control in preventing unauthorized changes to the payroll master file is

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 HRM department should immediately delete records of employees who quit to prevent other employees from assuming their identities.

The average annual management salary at Iyov Management is $80,000.If the average turnover rate for employees is ten per year,what is the approximate average annual cost of turnover?

Accounting Information Systems: an Overview

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

Filters