Which of the Following Procedures Represents a Weakness in Internal

question 475

Multiple Choice

Which of the following procedures represents a weakness in internal controls for payroll?

• A) The payroll clerk distributes signed payroll checks. Undistributed checks are returned to the payroll department.
• B) The accounting department wires transfers funds to the payroll bank account. The transfer is based on totals from the payroll department summary.
• C) The payroll department prepares checks using a signature plate. The treasurer supervises the process before payroll checks are distributed.
• D) The payroll department prepares checks. The chief financial officer signs the payroll checks.

Understand the organizational activities aimed at enhancing contextual performance.

Comprehend the impact of effective career planning on individual and organizational success.

Recognize the advantages and disadvantages of different performance appraisal techniques.

Understand the differences between formal and informal career-counseling programs.

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Definitions:

Appalachian Mountains

A mountain range in eastern North America extending from Canada to Alabama, offering significant biodiversity and recreational activities.

Navigation Rights

Legal rights or privileges concerning the passage of ships or boats through specific waterways, often key to trade, military, and transportation activities.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power, typically measured as an annual percentage increase.

Nation's Currency

The system of money in general use in a particular country, representing the medium of exchange and basis for trade.