Selected Employee Time Cards That Have Been Approved by Supervisory

question 6

Multiple Choice

Selected employee time cards that have been approved by supervisory personnel during the year are compared to the payroll register to ensure that they have been recorded.Which of the following assertions for payroll expense does this test?

• A)Occurrence.
• B)Completeness.
• C)Accuracy.
• D)Cut-off.

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Definitions:

Term

A fixed or limited period for which something, such as an agreement or investment, lasts or is intended to last.

Due Date

The date by which an obligation, such as a payment or submission, is required to be fulfilled.

Note Issued

A written promise to pay a specified amount of money, often with interest, at a future date.

Uncollectible Receivables

Accounts receivable that are considered to be uncollectable from customers, often written off as bad debt.