An effective system of internal control over the payroll function would include:
A. custody of rate authorization records by the supervisor of the payroll department.
B. preparation of payroll transaction journal entries by an employee who reports to the supervisor of the human resource department.
C. verification of agreement of job time sheets with employee recorded hours by a payroll department employee.
D. reconciliation of totals on job time sheets with job reports by employees responsible for those specific jobs.
Answer: C
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a. It includes concepts, valuation models, and hypotheses. b. It is developed and refined by the process of accounting research. c. It is concerned with improving financial accounting and statement presentation. d. It is concerned with insuring that managers and investors are in agreement on how to improve financial statements.
The household life cycle is changing due to changes in ________.
A. family structure B. cultural beliefs C. cultural values D. social class E. product lifecycle
The histogram of a sample should have a distribution shape very similar to that of the population from which the sample was drawn
Indicate whether the statement is true or false
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