Which of the Following Is a Control Procedure to Prevent

question 83

Multiple Choice

Which of the following is a control procedure to prevent fictitious persons cashing paychecks?

• A) Having employees clock in and out of work
• B) Keeping computerized records of payroll data
• C) Serial numbering of paychecks
• D) Requiring photo IDs for employees picking up their paychecks

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Definitions:

Average Variable Cost

The total variable cost divided by the quantity of output, reflecting the cost of labor and materials directly involved in production.

U-shaped

A term often describing a graph or relationship where a variable initially decreases, reaches a minimum point, and then increases, resembling the shape of the letter "U."

Total Product Curve

A graphical representation that shows the relationship between the total output produced by a firm and the quantity of a variable input for a given level of fixed input(s).

Average Product

The output produced per unit of a resource employed, calculated by dividing total product by the quantity of the resource used.