Why Is a Separate Payroll Account Used to Clear Payroll

question 40

Multiple Choice

Why is a separate payroll account used to clear payroll checks?

• A) for internal control purposes to help limit any exposure to loss by the company
• B) to make bank reconciliation easier
• C) banks don't like to commingle payroll and expense checks
• D) All of the above are correct.

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Definitions:

Progymnosperms

An extinct group of plants that are considered to be the ancestors of both gymnosperms and angiosperms, showing features typical of both groups.

Megaphylls

Leaves with a highly branched vascular system, characteristic of most modern plants, contrasted with microphylls of some ancient lineages.

Woody Tissue

Plant tissue composed mainly of xylem, providing structural support and conduction of water and nutrients; commonly found in trees and shrubs.

Basal Angiosperm

refers to the earliest diverging groups of flowering plants, sharing some ancestral characteristics distinct from most modern flowers.