Vouching Selected Items from the Payroll Register to Employee Time

question 50

Multiple Choice

Vouching selected items from the payroll register to employee time cards that have been approved by supervisory personnel provides evidence that

• A) Internal controls relating to payroll disbursements were operating effectively.
• B) Payroll checks were signed by an appropriate officer independent of the payroll preparation process.
• C) Only bona fide employees worked and their pay was properly computed.
• D) Employees worked the number of hours for which their pay was computed.

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Definitions:

Corporate Social Action

Initiatives taken by a company to assess and take responsibility for its effects on environmental and social wellbeing.

Iron Law of Responsibility

The principle that businesses and organizations must act in a socially responsible way to maintain their societal legitimacy and ensure long-term success.

Socioeconomic

Relating to or concerned with the interaction of social and economic factors, often used to describe the social standing or class of an individual or group.

Neo-capitalist

A term referring to the modern or new form of capitalism that includes a mix of traditional capitalist principles and innovative practices or policies.