Internal Control Activities Within the Payroll Process, Identified as Segregation

question 8

Multiple Choice

Internal control activities within the payroll process, identified as segregation of duties, would include which of the following?

• A)Payroll preparation, authorization of new hiring and pay rates, information systems, and general accounting should all be performed by different departments and / or different people.
• B)IT controls over computer records and physical controls in records storage areas.
• C)The payroll register is checked for mathematical accuracy and agreement with authorized pay rates and deductions.
• D)Supervisor approval of time sheets prior to preparation of payroll documents.

Differentiate between various economic theories and their application to macroeconomic policy.

Analyze the effectiveness of macroeconomic policies during different economic crises.

Understand the core principles of Say's Law and its implications on economic thought.

Comprehend the beliefs of monetarists, especially regarding the impact of money supply changes during recessions.

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Definitions:

Technological Tools

Various types of modern digital and mechanical devices, software, or platforms employed to enhance productivity, efficiency, or engagement in different tasks.

Wants

The form that human needs take as they are shaped by personality, culture, and buying situation.

Deprivation

A state in which there is a significant lack or absence of basic needs or comforts in life.

Ethical Decision-making

The process of making choices based on moral principles and values, often involving considerations of fairness, justice, and respect for individuals.