Which of the Following Internal Control Tests Would Assist in Satisfying

question 46

Multiple Choice

Which of the following internal control tests would assist in satisfying the occurrence transaction-related audit objective for payroll?

• A)examining payroll records for evidence of approval
• B)proving the payroll bank reconciliation
• C)reviewing the chart of accounts
• D)accounting for a sequence of payroll cheques

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Definitions:

Creative Vision

involves the ability to imagine future possibilities and innovations that do not currently exist, guiding strategic direction and inspiring others.

Reward Power

The ability of a person to influence others by offering or withholding rewards.

Pay Raises

An increase in the wage or salary provided to an employee, often based on performance or market conditions.

Promotions

The act of advancing an employee to a higher position or rank within an organization, often accompanied by increased responsibilities and salary.