Internal Control Activities Within the Payroll Process, Identified as Adequate

question 12

Multiple Choice

Internal control activities within the payroll process, identified as adequate records and documents, would include which of the following?

• A)Manager approval of payroll prior to signing checks
• B)Independent paymaster
• C)Physical controls in areas where cash and paychecks are held
• D)Paychecks are prepared on prenumbered checks

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Definitions:

Fraud

A wrongful or criminal deception intended to result in financial or personal gain.

Sell

The act of giving or handing over something in exchange for money.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities with the aim of generating profits.

Libel

Any false statement that harms another person’s good name or reputation made in a permanent form, such as movies, writing, and videotape, and communicated to others.