For Proper Internal Control, the Person(s)responsible for Signing the Payroll

question 49

True/False

For proper internal control, the person(s)responsible for signing the payroll cheques should not have access to timekeeping or be otherwise involved in the preparation of payroll.

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Definitions:

Random Variable

A variable whose values depend on outcomes of a statistical experiment where the exact outcomes are uncertain.

Rainy Days

Days on which a significant amount of precipitation falls, typically defined as days when there is at least 0.1 inches of rainfall.

Expected Amount

The average value or mean that one anticipates to occur over a long series of trials in a random experiment.

Pair Of Dice

Two small cubes with faces marked from one to six, used in games to generate random numbers through tossing.