In Preparing Payroll Checks, the Computer Omitted 24 of a Total

question 47

Multiple Choice

In preparing payroll checks, the computer omitted 24 of a total of 2,408 checks which should have been processed.The error was not detected until the supervisor distributed the checks.The best control procedure would be:

• A)A parity check
• B)A module N check
• C)Control totals
• D)Desk checking

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Definitions:

FOB Destination

A shipping term where the seller bears the shipping costs and retains ownership of the goods until they are delivered to the buyer’s location.

Gross Profit

is the difference between the revenue generated from sales and the cost of goods sold, indicating the financial health and profitability of a company's core activities.

Net Profit

The amount of money that remains from revenues after all the operating expenses, taxes, and costs have been subtracted.

Discounts

Reductions applied to the regular price of goods or services, often to stimulate sales or clear out inventory.