This department makes changes to the employee file in real time via terminals
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Buy the Full Version Reward Your CuriosityEverything you want to read. Anytime. Anywhere. Any device. No Commitment. Cancel anytime. Chapter 6—The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures TRUE/FALSE 1. Time cards are used by cost accounting to allocate direct labor charges to work in process. ANS: F 2. The personnel department authorizes changes in employee pay rates. ANS: T 3. Most payroll systems for mid-size firms use real-time data processing. ANS: F 4. To improve internal control, paychecks should be distributed by the employee's supervisor. ANS: F 5. Employee paychecks should be drawn against a special checking account. ANS: T 6. Because a time clock is used, no supervision is required when employees enter and leave the work place. ANS: F 7. Inventory control performs the formal record keeping function for fixed assets. ANS: F 8. The depreciation schedule shows when assets are fully depreciated. ANS: T 9. Authorization to dispose of fixed assets should be issued by the user of the asset. ANS: F 10. Work-in-process records are updated by payroll personnel. ANS: F 11. Ideally, payroll checks are written on a special bank account used only for payroll. ANS: T 12. The supervisor is the best person to determine the existence of a “phantom employee” and should distribute paychecks. ANS: F 13. Payroll processing can be automated easily because accounting for payroll is very simple. ANS: F 14. Timekeeping is part of the personnel function. ANS: F 15. Fixed asset accounting systems include cost allocation and matching procedures that are not part of routine expenditure systems. ANS: T Which department authorizes changes in employee pay rates?The personnel department authorizes changes in employee pay rates. Most payroll systems for mid-size firms use real-time data processing. To improve internal control, paychecks should be distributed by the employee's supervisor. Employee paychecks should be drawn against a special checking account.
Which function or department prepares and submits personnel action forms to the prepare payroll function? Personnel Department Prepares and submits personnel action forms to the prepare payroll function. These documents identify employees authorized to receive a paycheck and are used to reflect changes in hourly pay rates, payroll deductions, and job classification.
Which accounting department authorizes the removal of an asset from the ledger?The Property Control/Warehouse Manager sends a deletion form to Accounting who removes the asset from the general ledger.
Which items does a payroll department need in order to prepare the payroll register?Generally, here are the documents you should include in each employee's payroll record:. General information. Employee name. Address. ... . Tax withholding forms. Form W-4. State W-4 form. ... . Time and attendance records. Time cards. ... . Payroll records. Pay rate. ... . Termination/separation documents, if applicable. Final paycheck information.. |
