The Human Resources and Payroll Cycle Is the Transaction Cycle

question 35

Multiple Choice

The human resources and payroll cycle is the transaction cycle that begins with

• A)processing the payment to the employees.
• B)the creation of the employee profile in the payroll master file.
• C)the employee performing work for the company.
• D)the hiring of personnel.

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Definitions:

Organizational Hierarchy

A system in which people within an organization are ranked according to levels of importance or authority.

Vacation Days

allotted days where an employee is permitted to be absent from work for personal time, often paid.

Health Maintenance Organization

A medical insurance group that provides health services for a fixed annual fee, focusing on preventative care.

Discounted Services

Services offered at reduced prices, often to attract customers or as a benefit for certain groups, such as employees or members.