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:

Marketing Mix

The combination of elements in a company's marketing strategy, traditionally categorized into four Ps: product, price, place, and promotion.

Philanthropy

A humanitarian act or initiative aimed at promoting the welfare of others, often through generous financial donations to causes or organizations.

Marketing Mix

The combination of product, price, place, and promotion strategies used by a company to market its products or services effectively.

Product

An item or service created for sale or use, offering value to customers.