Which of the Following Statements Is Not True

question 77

Multiple Choice

Which of the following statements is not true?

• A)Routine payroll processing begins with the submission of time cards.
• B)Payroll clerks must verify the hours reported on the time cards.
• C)Payroll reconciles personnel action forms with time cards and prepares paychecks.
• D)Cash disbursements signs paychecks and forwards them to the paymaster for distribution.

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Definitions:

Order Costs

Expenses associated with placing orders for products or services, including costs involved in ordering and receiving goods.

Effective Annual Rate

The interest rate on an investment or loan that is adjusted for compounding over a specified period, often annually.

Credit Terms

Conditions under which credit is extended by a lender to a borrower, including the repayment schedule, interest rate, and the term of the loan.

Merchandise

Goods that are bought and sold in business operations.