Tracing Selected Items from the Payroll Register to Approved,employee Time

question 11

Multiple Choice

Tracing selected items from the payroll register to approved,employee time cards provides evidence that ________.

• A)internal controls relating to payroll disbursements were operating effectively
• B)payroll cheques were signed by an appropriate officer independent of the payroll preparation process
• C)only bona fide employees worked and their pay was properly computed
• D)employees worked the number of hours for which their pay was computed

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Definitions:

Property Tax

A tax assessed on real estate by the local government and based on the property's value.

Adjusting Journal Entry

A journal record used to adjust the balances in various ledger accounts to more accurately reflect income and expenses for the period.

Supplies Account

An account that tracks the cost of supplies not yet used by a business.

Adjusting Entry

An accounting entry made into a ledger after the end of the accounting period to allocate income and expenditure to the period in which they actually occurred.