Some of a Company's Payroll Transactions Were Batch Posted to the Payroll

question 198

Multiple Choice

Some of a company's payroll transactions were batch posted to the payroll file but were not uploaded correctly to the general ledger file on the mainframe. The best control to detect this type of error would be.

• A) Edit controls on the payroll file.
• B) Appropriate segregation of duties for batch approval.
• C) Validation of hash totals.
• D) Reconciliation of paychecks to the bank account.

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Definitions:

Dividend Growth Rate

The annualized percentage rate of growth that a particular stock's dividend undergoes over a period of time.

Earnings

The net profits of a company after all expenses have been deducted from revenues.

Earnings Reinvested

Profits that are not paid out as dividends but are instead reinvested in the business to fund growth or pay down debt.

Retention Rate

A metric indicating the percentage of earnings not paid out as dividends but retained by the company for reinvestment.