For Good Internal Control, the Payroll Function Should Be Independent

question 53

True/False

For good internal control, the payroll function should be independent of the personnel department.

---

Definitions:

Time-Series Model

A statistical technique that analyzes sequences of data points, typically measured at successive times, to forecast future values based on past trends.

Short-Range Forecasts

Predictions made about future events or trends that are expected to take place in the near future, typically less than one year.

Quantitative Methods

Techniques that employ mathematical analysis and statistical tools to solve problems, make decisions, or conduct research.

Qualitative Methods

Research techniques that collect non-numerical data to understand concepts, thoughts, or experiences.