Chris Is a University Student Who Has a Summer Job

question 87

Multiple Choice

Chris is a university student who has a summer job, where she works 40 hours a week making a particular kind of hockey stick. She usually can make 100 hockey sticks in two weeks. Her employer gave her the option of being paid $400 every two weeks for the 80 hours she worked, or being paid $400 for every 100 hockey sticks she made. Chris's pay options correspond to

• A)a variable-interval schedule or a variable-ratio schedule
• B)a fixed-interval schedule or a fixed-ratio schedule
• C)a variable-ratio schedule or a fixed-interval schedule
• D)a fixed-ratio schedule or a variable-interval schedule

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Definitions:

Segregation Of Duties

A risk management and internal control principle that divides responsibilities among different people to reduce the risk of error or fraud.

Accounts Payable Clerk

A professional responsible for managing a company's outgoing bills and invoices, ensuring payments are made on time and records are kept.

Cheque Signing Authority

The power granted to an individual or individuals within an organization to sign checks on behalf of the company.

Internal Auditors

Professionals who conduct audits within an organization to review its operations, processes, and financial practices for efficiency, effectiveness, and compliance.