Match the Codes Assigned to the Following Payroll Functions to the Procedures

question 38

Essay

Match the codes assigned to the following payroll functions to the procedures listed below:
H = Hiring Employees PRE = Preparing the Payroll
T = Timekeeping PAY = Paying the Payroll
1. ____ Distribution of checks by the treasurer.
2. ____ Supervisor approves hours worked.
3. ____ Posting job openings.
4. ____ Maintenance of payroll records.
5. ____ Verification of payroll calculations.
6. ____ Screening and interviewing of job applicants.
7. ____ Employment authorization.
8. ____ Signing prenumbered payroll checks.
9. ____ Use of a timeclock.
10. ____ Payroll tax return preparation.
11. ____ Employee signs receipt acknowledging cash received.
12. ____ Documentation of employee hiring.

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Definitions:

Investment Tax Credit

Investment tax credit is a tax incentive that reduces the tax liability of businesses for specific investments in assets or projects, encouraging capital investment.

Aggregate Supply

The total amount of goods and services that producers are willing and able to supply at different price levels in an economy over a specific time period.

Aggregate Demand

Total requirement for all products and services in an economy, factored at a certain overall price level during a designated period.

Price Level

The economy's wide-ranging average of prices for every produced good and service.