Which of the Following Is a Major Balance-Related Audit Objective

question 130

Multiple Choice

Which of the following is a major balance-related audit objective in testing payroll liabilities?

• A) Payroll tax expense is properly recorded.
• B) Transactions in the payroll and personnel cycle are recorded in the proper period.
• C) Accrual of salaries is the same as the amounts paid on the payroll tax returns.
• D) Time records are recorded by supervisors.

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Definitions:

Philanthropist

An individual who seeks to promote the welfare of others, typically through generous donations of money to good causes.

Ego Identity

A sense of self that develops through social interaction and becomes a central focus during the identity vs. role confusion stage of psychosocial development.

Ego Transcendence

The process by which individuals come to terms with their life, achieving a sense of completeness or fulfillment beyond their own ego or self.

Monika Ardelt

A notable sociologist known for her research on aging, particularly the concept of wisdom and its impact on well-being in later life.