An Effective Internal Control for the Payroll Function Would Generally

question 45

Multiple Choice

An effective internal control for the payroll function would generally include which of the following?

• A)Total time recorded on time-clock cards should be reconciled to job reports by employees responsible for those specific jobs.
• B)Payroll department employees should be supervised by the management of the personnel department.
• C)Payroll department employees should be responsible for maintaining employee personnel records.
• D)Total time spent on jobs should be compared with total time indicated on time-clock cards.

Analyze employment dynamics within low-income families.

Recognize offshoring and its effect on a country's economy.

Evaluate the impact of parental work schedules on family dynamics.

Identify underemployment and its consequences on the workforce.

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Definitions:

Long Run

Refers to a period in economics where all factors of production can be adjusted, and all costs are variable, allowing for complete industry adjustment.

Renovate

The process of restoring or improving a building, room, or structure to make it more attractive, functional, or to bring it up to current standards.

Marginal Product Curve

A graphical representation showing how the addition of a single unit of resource alters the total output of a good or service.

Total Product

The total output of goods and services produced by a firm or industry over a specific period.