Tracing a Sample of Time Clock Cards to Payroll Registers

question 67

Multiple Choice

Tracing a sample of time clock cards to payroll registers (journals) is a procedure designed to obtain evidence about the transaction assertion(s) of

• A)occurrence only.
• B)occurrence and accuracy only.
• C)completeness only.
• D)accuracy only.

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Definitions:

Price of X

The specific cost or value associated with a particular item or commodity, denoted as "X."

Price of Y

The monetary cost or value assigned to a good or service, labeled as 'Y'.

Utility Function

A mathematical representation in economics that reflects the satisfaction or utility a consumer derives from consuming a certain quantity of goods and services.

Income

Income earned, particularly in a consistent manner, from employment or investment returns.