Which of the Following Statements Is False

question 40

Multiple Choice

Which of the following statements is false?

• A) The payroll cycle consists of one class of transactions.
• B) Balance sheet accounts related to payroll are generally more significant than related transactions.
• C) Internal controls over payroll are effective for most companies.
• D) Small companies usually have effective controls over payroll.

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Definitions:

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Business Card

A small card printed with one's personal business information, such as name, contact details, and company affiliation, used for networking purposes.

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The achievement of predefined objectives and goals by a new business or startup, often measured in terms of profitability, scalability, or market share.

Lead Entrepreneur

The primary individual responsible for setting the vision, direction, and strategy of a startup or entrepreneurship venture, often leading the effort to achieve its objectives.