An Aid in Internal Control Over Payrolls That Indicates Employee

question 70

Multiple Choice

An aid in internal control over payrolls that indicates employee attendance is

• A) time card
• B) voucher system
• C) payroll register
• D) employee's earnings record

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Definitions:

Treasury Stock

Shares initially part of the company's outstanding shares that have been repurchased by the company.

Par Value

Par value is the nominal or face value of a bond, share of stock, or a coupon as stated by the issuer.

Stated Value

A per-share amount set by the board of directors for no-par value stock, which is not determined by market forces.

Revaluation Surplus

An increase in the value of an asset held by a company, recognized in equity, that occurs when the asset's current market value exceeds its previously recorded cost.