Which of the following is TRUE of good internal controls over payroll?
A) Accounting for payroll should be separate from hiring and firing of employees.
B) Disbursement of paychecks should not be separate from the function of maintaining payroll records.
C) Hiring and firing employees should not be separated from accounting and from disbursing paychecks.
D) Cash receipts from customers should be separated from the accounting for accounts receivable.
A) Accounting for payroll should be separate from hiring and firing of employees.
You might also like to view...
Which of the following is NOT a way of controlling extraneous variables?
A) Randomization B) Matching C) Statistical control D) Design control E) Interactive testing
Holland worked to discover different personality types and then match these types to ______.
A. personality-team fit B. personality-occupation fit C. personality-organization fit D. personality-job fit
Silken Corp reported net income of $420,000 for 2014 . Changes occurred in several balance sheet accounts as follows: Equipment ................................. $35,000 increase Accumulated depreciation .................. 56,000 increase Note payable .............................. 42,000 increase Additional information: · During 2014, Silken sold equipment costing $35,000, with accumulated
depreciation of $16,800, for a gain of $7,000. · In December 2014, Silken purchased equipment costing $70,000 with $28,000 cash and a 12% note payable of $42,000. · Depreciation expense for the year was $72,800. In Silken's 2014 statement of cash flows, net cash used in investing activities should be a. $30,800. b. $16,800. c. $2,800. d. $49,000.
Distributed computing processes and manages algorithms across many machines in a computing environment.
Answer the following statement true (T) or false (F)