Vouching selected items from the payroll register to employee time sheets that have been approved by supervisory personnel provides evidence that
A. Internal controls relating to payroll disbursements were operating effectively.
B. Payroll checks were signed by an appropriate officer independent of the payroll preparation process.
C. Only bona fide employees worked and their pay was properly computed.
D. Employees worked the number of hours for which their pay was computed.
D. Employees worked the number of hours for which their pay was computed.
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Some analysts focus attention on cash flow from operations, thinking it as important as, or more important than, net income as a performance measure. Interpreting cash from operations as a measure of operating performance requires considering cash flows along two dimensions: (1) their timing and (2) their classification and disclosure in the statement and related notes. Explain
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