Multiple Choice
In the area of payroll,which of the following procedures represents proper control over the custody of assets?
A) The supervisor receives a copy of the payroll register for a chance to approve the payroll after it is completed.
B) Individual paycheques are prepared.
C) Unclaimed payroll cheques are held in the office of the chief financial officer.
D) Signatures from employees are obtained for calculation of deductions.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Which of the following procedures carried out
Q4: Only supervisors have physical custody of materials,equipment,and
Q5: The purpose of segregating the duties of
Q6: Production accounting generates important information for management
Q7: Describe the major risk areas associated with
Q9: A test of the completeness objective is
Q10: The five functional responsibilities for the payroll
Q11: Tracing selected items from the payroll register
Q12: One procedure in an audit program for
Q13: An advantage to outsourcing payroll processing is