An Imprest Payroll Account That Has a Significant Balance May

question 13

Multiple Choice

An imprest payroll account that has a significant balance may indicate the presence of:

• A)employees have not yet deposited or cashed payroll checks.
• B)fraudulent transfer of funds by the company.
• C)lack of controls over payroll distribution.
• D)the company is overpaying its employees.

Understand the concept of prior service cost and how pension amendments affect pension plans.

Calculate pension expense using given data on service cost, interest cost, and returns on plan assets.

Record journal entries related to pension plan payments.

Conceptualize the role and calculation of interest cost in pension plans.

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Definitions:

Networking

The practice of building, maintaining, and utilizing relationships, especially for professional or business purposes.

Absenteeism Rate

The frequency or rate at which employees are absent from work, typically expressed as a percentage of total working days.

Contingent

Dependent on or conditioned by something else; in organizational behavior, often refers to rewards or responses that are based on specific performance criteria.

Mintzberg

Refers to Henry Mintzberg, a renowned academic and author known for his work on business and management structures, strategy, and organizational effectiveness.