Effective Internal Control Over Unclaimed Payroll Checks That Are Kept

question 34

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:

Molecule

The smallest unit of a chemical compound that can exist; composed of two or more atoms bonded together.

Conjugate Acid

A species formed by the reception of a proton by a base, in other words, it is the base with a hydrogen ion added to it.

Methanol

A simple alcohol with the formula CH3OH, known for being a volatile, colorless, and flammable liquid.

Base

A substance that can accept protons or release hydroxide ions in aqueous solutions.