Effective Internal Control Over Unclaimed Payroll Checks That Are Kept

question 57

Multiple Choice

Effective internal control over unclaimed payroll checks that are kept by the Treasury Department would include Accounting Department procedures that require

• A) Effective cancellation and stop payment orders for checks representing unclaimed wages.
• B) Redepositing unclaimed wages after a period of 3 months.
• C) Accounting for all unclaimed wages in a current liability account.
• D) Periodic accounting for the actual checks representing unclaimed wages.

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Definitions:

Egocentrism

A cognitive bias where an individual has difficulty understanding or assuming any perspective other than their own, often discussed in the context of child development.

Simple Reflexes

Basic, involuntary responses to stimuli, such as the knee-jerk reflex, that are mediated by the spinal cord and brainstem.

Cognitive Structures

Mental frameworks or patterns that help individuals organize and interpret information.

Perceptual Abilities

The capacity to interpret, analyze, and give meaning to sensory information.