Effective Internal Accounting Control Over Unclaimed Payroll Checks That Are

question 81

Multiple Choice

Effective internal accounting control over unclaimed payroll checks that are kept by the company would include accounting department procedures that require:

• A) effective cancellation and stop payment orders for checks representing unclaimed wages.
• B) preparation of a list of unclaimed wages on a periodic basis.
• C) accounting for all unclaimed wages in a current liability account.
• D) periodic accounting for the actual checks representing unclaimed wages.

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Definitions:

Interstate Commerce

Commercial trade, business, movement of goods or money, or transportation from one state to another, regulated by the federal government according to powers given by the Constitution.

Burden

In legal contexts, refers to the obligation of a party to prove allegations in a court case, often referred to as the "burden of proof."

Intermediate Scrutiny

A standard of judicial review that requires laws to further an important government interest in a way that is substantially related to that interest, used primarily in equal protection and due process cases.

Commercial Speech

Speech communicated by or on behalf of a company or individual for the purpose of promoting a product, service, or business. It is economic in nature and usually has the intent of convincing the audience to partake in a particular action, such as purchasing a specific product.