For Good Internal Control, There Should Be a ___________________________________ Between

question 27

Short Answer

For good internal control, there should be a ___________________________________ between personnel data creation/modification, payroll preparation, and disbursement of the checks.

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Definitions:

Leasing Reasons

The motives or considerations for choosing to lease assets, such as financial flexibility, tax advantages, or capital preservation.

Lease-Buy Analysis

A financial comparison used to decide whether to lease or buy an asset based on cost effectiveness over the asset's useful life.

Equipment

Tangible property used in operations, such as machinery, computers, and tools, which has a useful life beyond a single reporting period.

Managerial Compensation

The total package of benefits, including salary, bonuses, and incentives, provided to a manager for their services to an organization.