It Is Important That the Payroll Accountant Understand the Flow

question 69

Multiple Choice

It is important that the payroll accountant understand the flow of the payroll transactions,especially when working with ________.

• A)The payroll register
• B)The employee earnings record
• C)Accounting software packages
• D)Payroll tax reports

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Definitions:

Guarantee

A formal pledge to pay another's debt or to perform an obligation if the person who is supposed to pay or perform fails to do so.

Fulfill

To achieve or complete a duty, requirement, or condition.

Futures Contract

A contractual arrangement to purchase or sell a specific asset or financial instrument at a fixed price on a future date.

Contract Size

The deliverable quantity of commodities or financial instruments underlying futures and options contracts that is specified by the contract.