Which of the Following Best Describes Proper Internal Control Over

question 12

Multiple Choice

Which of the following best describes proper internal control over payroll?

• A)Preparation of the payroll must be under the control of the personnel department.
• B)Confidentiality of employee payroll data should be carefully protected to prevent fraud.
• C)Duties of hiring,payroll computation,and payment to employees should be segregated.
• D)Payment by cheque to employees should be replaced with payment by automatic deposits.

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Definitions:

Interest Rate

Borrowers are subject to a charge, defined as a percentage of the principal, for the usage of assets from lenders.

Interest Rate

The proportion, typically expressed as a percentage, that is charged by lenders to borrowers for the use of their money.

Payoff

The return or potential gain from an investment or decision, which can be seen in financial, strategic, or personal contexts.

Revenues

The total incomes that a business receives from its normal business activities, usually from the sale of goods and services to customers.