Which of the Following Is an Important Internal Control Over

question 89

Multiple Choice

Which of the following is an important internal control over payroll?

• A) separating the duties of the disbursement of paychecks from the recording of payroll transactions in the ledger
• B) separating the duties of safeguarding property from record-keeping of property
• C) separating the duties of approving invoices from signing disbursement checks
• D) separating the duties of cash disbursement from bank reconciliations

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Definitions:

Output Decreased

A reduction in the quantity of goods or services produced by a company, industry, or economy.

Tobacco Industry

A sector of the economy encompassing the farming, manufacture, and sale of tobacco and tobacco-related products.

Government Intervention

Regulatory actions taken by a government in order to affect or interfere with decisions made by individuals, groups, or organizations regarding economic and social matters.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, resulting in a stable market condition.