When Developing the Internal Controls and Record Retention for a Payroll

question 42

Multiple Choice

When developing the internal controls and record retention for a payroll system,a company should:

• A)Involve all company employees to promote transparency.
• B)Develop a closed system and alternate employee duties.
• C)Designate a single employee with the responsibility for pay disbursements.
• D)Train accounting personnel on a single payroll task.

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Definitions:

Mnemonics

memory aids, especially those techniques that use vivid imagery and organizational strategies to enhance the recall of information.

Method of Loci

A memorization technique where one associates information with specific physical locations.

False Memory Syndrome

A condition in which a person's identity and interpersonal relationships are affected by strongly believed but false memories of traumatic experiences.

Medial Temporal Lobe

The inner region of the temporal lobe in the brain, involved in the organization and storage of memories.