Possible Misstatements Related to the Occurrence Assertion for Payroll Transactions

question 23

Multiple Choice

Possible misstatements related to the occurrence assertion for payroll transactions include all of the following except:

• A)payments to fictitious employees.
• B)payments to terminated employees.
• C)payments to valid employees who have not worked.
• D)payments to valid employees at a rate in excess of the authorized amount.

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Definitions:

Outsourcing

The business practice of hiring a third-party to perform services, handle operations, or provide goods that are either difficult to manage or outside the company's core competencies.

Alternative Work Arrangements

Methods of staffing other than the traditional hiring of full-time employees, for example, use of independent contractors, on-call workers, temporary workers, and contract workers.

Intranet

A private, secured network used within a corporation to share information, operational systems, or computing services exclusively amongst employees.