All of the following are internal control procedures that are recommended to protect payroll operations except
A. keep payroll records in locked files.
B. assign new employees to work in payroll operations.
C. make voluntary deductions from employee earnings based only on a signed authorization from the employee.
D. retain all Forms W-4.
Answer: B
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The following information is available from the Arugula Company: Actual factory overhead $16,800 Actual fixed overhead expenses $ 9,200 Budgeted fixed overhead expenses $ 9,500 Actual hours 3,600 Budgeted hours 3,800 Standard hours allowed 3,500 Standard variable overhead rate per direct labor hour $ 2.25 Assuming that Arugula uses a three-variance analysis of overhead variances, what is the
spending variance? a. $800 favorable b. $800 unfavorable c. $500 favorable d. $500 unfavorable
In the context of employee morale and the role of the management, compared with younger workers, older employees are more interested in
A. monthly wages. B. opportunity for advancement. C. changing jobs. D. fringe benefits.
Which is an example of a Cost incurred in an exchange?
a. loss of self-respect (from the perspective of the "client" of a nonprofit) b. the values received (from the perspective of the "client" of a nonprofit) c. acquiring a new idea (from the perspective of the "client" of a nonprofit) d. the nonprofit acquiring a new volunteer (from the nonprofit's perspective) e. quitting smoking – from the point of view of smoking cessation program
Which of the following budgets is often more of a focus for a service company than a manufacturing company?
A) Manufacturing overhead budget B) Direct materials budget C) Labor budget D) Cash receipts budget