MosabAbuKhater 100% found this document useful [1 vote] 204 views 30 pages ةةةUploaded by
Description:
Original Title
AIS-CH5
Copyright
© © All Rights Reserved
Available Formats
PPT, PDF, TXT or read online from Scribd
Share this document
Did you find this document useful?
Is this content inappropriate?
Report this Document
100% found this document useful [1 vote]
204 views30 pages
Ais CH5
Original Title:
AIS-CH5
Uploaded by
MosabAbuKhater
Description:
ةةة
Full description
Krissha 0% found this document useful [0 votes] 48 views 6 pages ch 6 notes AIS chap 6 notes © © All Rights ReservedUploaded by
Description:
Original Title
Copyright
Share this document
Did you find this document useful?
Is this content inappropriate?
Report this Document
0% found this document useful [0 votes]
48 views6 pages
AIS Chap 6 Notes
Original Title:
AIS chap 6 notes
Uploaded by
Krissha
Description:
ch 6 notes
Full description
Jump to Page
You are on page 1of 6
Search inside document
You're Reading a Free Preview
Pages 4 to 5 are not shown in this preview.
Buy the Full Version
Reward Your Curiosity
Everything 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