Which of the Following Control Plans Will Detect Discrepancies Between

question 9

Multiple Choice

Which of the following control plans will detect discrepancies between the attendance time and job time?

• A) approve attendance time data and job time data
• B) distribute labor costs
• C) independent paycheck distribution
• D) use payroll clearing account

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Definitions:

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to make payments.

Creditor

An individual or organization to whom money is owed by a debtor.

Co-Sign

To sign a legal document alongside another person, often agreeing to take responsibility if the primary signer fails to meet the terms.

Credit Application

A form or request submitted by an individual or business seeking to obtain credit from a lending institution.