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.

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Definitions:

Debit Card

A payment card that deducts money directly from a consumer's checking account to pay for a purchase.

Credit Card

A payment card issued to users as a method of payment allowing the cardholder to borrow funds with which to pay for goods and services with the promise to pay back the lender.

Interest Rates

The proportion of a total amount of money that is charged for borrowing it, usually represented as a yearly rate.

Incomes

Financial returns, especially received periodically, from work performed or investments made.