All of the Following Controls Relate to the Process of Preparing

question 180

Multiple Choice

All of the following controls relate to the process of preparing payroll, EXCEPT:

• A)Information from electronic time cards should be forwarded to the supervisor for review and electronic approval.
• B)Before processing, the payroll program should check the employee name and payroll rates against the employee master file.
• C)The payroll program places a limit test on hours worked or gross payroll expenses.
• D)All of the answer choices are correct.

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Definitions:

Bankruptcy Trustee

A person appointed by the court to manage the assets of a debtor filing for bankruptcy.

Chapter 7

A provision under the U.S. Bankruptcy Code that allows individuals or businesses to liquidate their assets to pay off creditors.

Reduces to Money

The process of converting assets or damages into their monetary value.

Secured Creditor

A lender that has the right to claim specific assets of the borrower as collateral in case of default.