Which of the Following Is a Major Control Risk in the Payroll

question 155

Multiple Choice

Which of the following is a major control risk in the payroll area?

• A)theft of inventory by staff
• B)fictitious persons cashing paychecks
• C)expenses being recorded as assets in order to manipulate earnings
• D)contracts being awarded to relatives of employees

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Definitions:

Critical Path Method

A project management technique for determining the longest sequence of dependent tasks and scheduling resources to optimize achievement of project objectives.

PERT Chart

A project management tool used to schedule, organize, and coordinate tasks within a project, standing for Program Evaluation and Review Technique.

Longest Path

In project management, the sequence of tasks that determines the minimum timeframe required to complete a project, with any delay in these tasks delaying the whole project.

Gantt Chart

A visual project management tool that outlines project schedules, showing the start and end dates of individual tasks through horizontal bar graphs.