Which of the Following Is Not One of the Major

question 70

Multiple Choice

Which of the following is not one of the major sources of input to the payroll system?

• A)payroll changes
• B)time and attendance data
• C)checks for insurance and benefits
• D)withholdings and deduction requests from employees

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Definitions:

AASB 8

An accounting standard that requires entities to report financial information by operating segments, enhancing the ability of users of financial statements to evaluate the performance of the segment and make decisions.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single entity.

Parent Entity Financial Statements

Financial reports that consolidate the financial performance and position of a parent company and its subsidiaries.

Condensed Segment Data

A summarized presentation of financial information by different segments within a business.