During an Interview with a Data-Entry Clerk in the Human

question 58

Multiple Choice

During an interview with a data-entry clerk in the human resources department, an internal auditor recognizes a potentially significant weakness with a database system used to track employee performance ratings. Which of the following actions should the auditor take after discovering the weakness?

• A) Schedule a series of follow-up interviews with the data-entry clerk.
• B) Avoid either directly or indirectly confronting the data-entry clerk about the system weakness.
• C) Question the data-entry clerk indirectly to help obtain more factual information about the weakness.
• D) Immediately document the weakness and write a report to the data-entry clerk's superior.

Recognize and apply the closing entries to allocate net income among partners based on agreed-upon ratios or capital balances.

Understand the financial accounting implications of partner withdrawals and the difference between partner personal expenses and business expenses.

Identify and correct common errors in partnership accounting, including improper valuation and ignoring the income/loss agreement.

Understand the tax implications on the different partners based on their share of net profit from the partnership.

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Definitions:

Balance Due

The amount of money owed on an account or invoice after payments have been applied.

Billing System

A combination of software and procedures that is used to issue and manage invoices and financial transactions for goods or services.

Cycle Billing

A system that sends invoices to groups of patients every few days, spreading the work of billing all patients over the month while billing each patient only once.

Patient

An individual who receives care or treatment from healthcare professionals, often within a clinical setting.