Which of the Following Is a Control Procedure to Prevent

question 134

Multiple Choice

Which of the following is a control procedure to prevent a dishonest employee from cashing a paycheck that was written to a fictitious person?

• 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:

Producer Surplus

The difference between what producers are willing and able to sell a good for and the actual price they receive, representing the benefit to sellers.

Opportunity Cost

The expense incurred by not choosing the second-best option in any decision-making process.

Higher Prices

An increase in the cost of goods or services in the market.

Quantities

The amount or number of a material or item present or available.