An Auditor Vouched Data for a Sample of Employees in a Payroll

question 100

Multiple Choice

An auditor vouched data for a sample of employees in a payroll register to approved clock card data to provide assurance that

• A)Payments to employees are computed at authorized rates.
• B)Employees work the number of hours for which they are paid.
• C)Separation of duties exists between the preparation and distribution of the payroll.
• D)Internal controls relating to unclaimed payroll checks are operating effectively.

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Definitions:

Stock

Shares of ownership in a company, representing a claim on the company's assets and earnings.

Primary Inventory Management

Refers to the basic approaches and strategies businesses use to control their goods, materials, and products to ensure availability while minimizing costs.

Distribution Center

A specialized building designed for storing and sorting products to facilitate their distribution to retailers, wholesalers, or directly to consumers.

Best-seller

A product or book that has achieved significant sales figures compared to others in its category.