The Most Important Means of Verifying Account Balances in the Payroll

question 22

Multiple Choice

The most important means of verifying account balances in the payroll and personnel cycle are

• A) tests of controls and substantive tests of transactions.
• B) analytical procedures and tests of controls.
• C) analytical procedures and substantive tests of transactions.
• D) tests of controls and tests of details of balances.

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Definitions:

Critical Thinking

The intellectual discipline of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication.

Analytical

Pertaining to the systematic examination and evaluation of data or information, often by breaking it into its component parts to uncover their interrelationships.

Destructive

Causing great and irreparable harm or damage.

Closed Society

A society that is isolated from others and often restrictive in terms of its social, cultural, or political life.