It would be appropriate for the payroll accounting department to be responsible for which of the following functions?
A. Distribution of paychecks to employees.
B. Preparation of periodic governmental reports as to employees' earnings and withholding taxes.
C. Approval of employee time records.
D. Maintenance of records of employment, discharges, and pay increases.
Answer: B
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If Nestlé decides not to market biscuits (cookies) in the United States due to competitive reasons, it is considered to be having a lack of strategic focus and missed opportunity
Indicate whether the statement is true or false
Homer and Moe, PC are auditing the financial statements of Lyoncraft, Inc and decide to confirm a sample of accounts receivable. This test is performed by Homer and Moe primarily to substantiate which of the following assertions?
a. Existence of related party transactions. b. Existence of accounts receivable. c. Obligation of debt. d. Cutoff of the allowance for bad debt.
If we use 2,000 labor hours to produce 400 units of a product, then ______.
A. using the multifactor productivity measure, we get 5 units per labor hour B. using the single-factor productivity measure, we get 5 units per labor hour C. using the multifactor productivity measure, we get 1 unit per 5 labor hours D. using the single-factor productivity measure, we get 1 unit per 5 labor hours
Firms receive cash inflows and disburse cash outflows for financing activities such as to
a. acquire property, plant, and equipment. b. pay dividends to shareholders. c. purchase intellectual property. d. pay interest on borrowings. e. all of the above.