Which of the Following Is a Control That Can Be

question 18

Multiple Choice

Which of the following is a control that can be implemented to help prevent paychecks being issued to a "phantom" or "ghost" employee?

• A)The cashier should sign all payroll checks.
• B)Sequentially prenumber all payroll checks.
• C)Use an imprest account to clear payroll checks.
• D)Paychecks should be physically distributed by someone who does not authorize time data or record payroll.

Comprehend the role and impact of government monetary policy on the economy, including interest rates.

Understand how inflation affects interest rates and the real cost of borrowing.

Understand the principles of investment decisions based on expected returns and interest rates.

Understand the concept of accounting and economic profits and their differences.

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Definitions:

High School Education

A secondary school program typically completed between the ages of 14 and 18, preparing students for higher education or vocational training.

Mental Deficiencies

A term describing limitations in cognitive functioning and behavioral abilities, ranging from mild to severe, that can affect an individual's day-to-day life and learning.

Adjudicated Insane

A legal determination made by a court that an individual lacks the mental capacity to manage their own affairs or to understand the nature of a criminal act.

Voidable

A term describing a legal contract or action that may be nullified or terminated at the discretion of one or both parties involved.