The Main Difference Between the Payroll and Personnel Cycle and Other

question 26

Multiple Choice

The main difference between the payroll and personnel cycle and other cycles is:

• A) transactions are more significant than related balance sheet accounts.
• B) there is only one class of transactions.
• C) internal controls for payroll are effective for most companies.
• D) all of the above

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Definitions:

Primary Groups

Small, close-knit, and usually long-term social groups in which members share deep, personal, and enduring relationships.

Secondary Groups

Larger, more impersonal groups in society that individuals join for specific purposes, often characterized by limited emotional ties and duration, such as professional organizations or corporations.

Intimate

Relating to a very close personal relationship characterized by deep emotional or physical bonding, often used to describe friendships, romantic relationships, or family ties.

Bureaucracy

A type of formal organization characterized by an authority hierarchy, a clear division of labor, explicit rules, and impersonality.