Question 1

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. B

Question 2

All of the following regarding payroll checks is correct except

Accepted Answer

A) access to payroll checks should be restricted. 
B) payroll checks should be sequentially pre-numbered. 
C) payroll checks should be drawn on the organization's regular bank account(s). 
D) the cashier should sign payroll checks. 
A) access to payroll checks should be restricted. 
B) payroll checks should be sequentially pre-numbered. 
C) payroll checks should be drawn on the organization's regular bank account(s). 
D) the cashier should sign payroll checks. C

Question 3

Identify the two types of payroll deductions and give two examples of each type.

Accepted Answer

Payroll deductions include: Payroll tax withholdings such as federal,state,and local income taxes,social security taxes,unemployment taxes; Voluntary deductions such as contributions to a pension plan,premium for group life,etc.

Question 4

Why are accurate cumulative earnings records important?

Accepted Answer

Accurate records of cumulative earnings

Question 5

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

Accepted Answer

A) payroll processing 
B) collecting employee time data 
C) hiring and recruiting 
D) all of the above 
A) payroll processing 
B) collecting employee time data 
C) hiring and recruiting 
D) all of the above

Question 6

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 7

The document that lists each employee's gross pay,payroll deductions,and net pay in a multicolumn format is called

Accepted Answer

A) an employee earnings statement. 
B) the payroll register. 
C) a deduction register. 
D) an employee time sheet summary. 
A) an employee earnings statement. 
B) the payroll register. 
C) a deduction register. 
D) an employee time sheet summary.

Question 8

Which type of payroll report lists the voluntary deductions for each employee?

Accepted Answer

A) payroll register 
B) deduction register 
C) earnings statement 
D) federal W-4 form 
A) payroll register 
B) deduction register 
C) earnings statement 
D) federal W-4 form

Question 9

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 10

Which of the following is a control that addresses the threat of unauthorized changes to the payroll master file?

Accepted Answer

A) field checks 
B) batch totals 
C) segregation of duties 
D) sound hiring procedures 
A) field checks 
B) batch totals 
C) segregation of duties 
D) sound hiring procedures

Question 11

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 12

Using financial incentives requires organizations to

Accepted Answer

A) pay employees less than they would have to if pay was a fixed salary. 
B) better monitor employee attendance. 
C) link the payroll system to other cycles to calculate incentive payments. 
D) better monitor employee effort. 
A) pay employees less than they would have to if pay was a fixed salary. 
B) better monitor employee attendance. 
C) link the payroll system to other cycles to calculate incentive payments. 
D) better monitor employee effort.

Question 13

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

Accepted Answer

Direct deposit of paychecks provide a sa

Question 14

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 15

Which of the following statements is false regarding the use of incentives,commissions and bonuses in the payroll system?

Accepted Answer

A) Using incentives,commissions,and bonuses requires linking the payroll system and the information systems of sales and other cycles in order to collect the data used to calculate bonuses. 
B) Bonus/incentive schemes must be properly designed with realistic,attainable goals that can be objectively measured. 
C) Incentive schemes can result in undesirable behavior. 
D) All of the above are true. 
A) Using incentives,commissions,and bonuses requires linking the payroll system and the information systems of sales and other cycles in order to collect the data used to calculate bonuses. 
B) Bonus/incentive schemes must be properly designed with realistic,attainable goals that can be objectively measured. 
C) Incentive schemes can result in undesirable behavior. 
D) All of the above are true.

Question 16

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 17

Source data automation is often effective in reducing

Accepted Answer

A) unintentional errors. 
B) intentional errors. 
C) accuracy. 
D) theft. 
A) unintentional errors. 
B) intentional errors. 
C) accuracy. 
D) theft.

Question 18

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 19

When using electronic documents,________ increase(s)the accuracy of data entry.

Accepted Answer

A) access controls 
B) separation of duties 
C) general controls 
D) application controls 
A) access controls 
B) separation of duties 
C) general controls 
D) application controls

Question 20

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.

Exam 15: The Human Resources Management and Payroll Cycle

A workforce inventory report

All of the following regarding payroll checks is correct except

Identify the two types of payroll deductions and give two examples of each type.

Why are accurate cumulative earnings records important?

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

A payroll clearing account is used to

The document that lists each employee's gross pay,payroll deductions,and net pay in a multicolumn format is called

Which type of payroll report lists the voluntary deductions for each employee?

Which of the following is a control that addresses the threat of unauthorized changes to the payroll master file?

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

Using financial incentives requires organizations to

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

Involving accountants in executive compensation plans is often especially helpful

Which of the following statements is false regarding the use of incentives,commissions and bonuses in the payroll system?

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

Source data automation is often effective in reducing

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

When using electronic documents,________ increase(s)the accuracy of data entry.

Knowledge management systems (KMS)permit organizations to

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

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