What Is a Potential Threat to the Specific Activity of Payroll

question 40

Multiple Choice

What is a potential threat to the specific activity of payroll processing?

• A) hiring unqualified employees
• B) poor system performance
• C) violations of employment laws
• D) unauthorized changes to the payroll master file

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Definitions:

Bank Reconciliation

The process of matching the balances in an entity's accounting records with the corresponding bank statement.

Note Collected

A financial transaction where a note receivable, typically a written promise to pay a debt, is collected or paid off.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement to ensure they are in agreement.