In Determining the Effectiveness of an Entity's Policies and Procedures

question 128

Multiple Choice

In determining the effectiveness of an entity's policies and procedures relating to the occurrence assertion for payroll transactions,auditors most likely would inquire about and

• A)Observe the separation of duties concerning personnel responsibilities and payroll disbursement.
• B)Inspect evidence of accounting for prenumbered payroll checks.
• C)Recompute the payroll deductions for employee fringe benefits.
• D)Verify the preparation of the monthly payroll account bank reconciliation.

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Definitions:

Capitoline Wolf

A bronze sculpture depicting a scene from Roman mythology, specifically the she-wolf suckling the future founders of Rome, Romulus and Remus.

Etruscan Orientalizing

A phase in the early history of ancient Italy, characterized by the influence of Near Eastern art and motifs on Etruscan artifacts and architecture.

Apollo Of Veii

An ancient Etruscan terracotta statue representing the Greek god Apollo, found in the ruins near Veii, Italy.

Colossal

Extremely large or great in scale, size, or extent, often used to describe statues, buildings, and natural features of remarkable magnitude.