The department responsible for approving pay rate changes is a. payroll b. treasurer c. personnel d. cash disbursements
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Q: b
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Q: disbursements for salaries and wages shall be supported by:
A: GAM stands for Government Accounting Manual. NGA stands for National Government Agencies.
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A:
The department responsible for approving pay rate changes is
a. payroll
b. treasurer
c. personnel
d. cash disbursements
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- For what reason are distribution columns sometimes provided in the payroll register?The deparment that should pay the payroll is the: a. payroll deparment b. human resources deparment c. trasures's department d. timekeeping departmentEffective control over the cash payroll function would mandate which of the following?a. The payroll clerk should fill the envelopes with cash and a computation of the net wages.b. Unclaimed payroll envelopes should be retained by the paymaster.c. Each employee should be asked to sign a receipt.d. A separate checking account for payroll should be maintained.
- describe the substantive sufit procedures you will be performing on a) the payroll balances b) the payroll transactions in the profit and loss account44. Which of the following results to the recognition, in the books of accounts, expenses classified as Personnel Services? Granting of cash advance for payroll Liquidation of payroll fund Issuance of office supplies to end users Set up payable for payrollDescribe a walkthrough of the payroll transaction flow from hiring authorization to payroll checkdisbursement. (a) What document copies would be collected? (b) What controls should be noted?
- In determining the effectiveness of an entity’s policies and procedures relating to the occurrence assertion for payroll transactions, auditors most likely would inquire about anda. Observe the separation of duties concerning personnel responsibilities and payrolldisbursement.b. Inspect evidence of accounting for prenumbered payroll checks.c. Recompute the payroll deductions for employee benefits.d. Verify the preparation of the monthly payroll account bank reconciliationWhich internal control is not an important part of the payroll system? a. supervisors verify the accuracy of employee time cards b. paychecks are distributed by an independent paymaster c. the accounts payable department verifies the accuracy of the payroll register before transfer-ring payroll funds to the general checking account d. the general ledger department reconciles the labor distribution summary and the payroll disbursement voucherMatch the four functions of payroll activities with their related internal controls: a. An independent employee should sign and distribute the prenumbered checks. select a function Hiring EmployeesPaying the PayrollPreparing the PayrollTimekeeping b. Supervisors should monitor hours worked through time reports. select a function Hiring EmployeesPaying the PayrollPreparing the PayrollTimekeeping c. Human Resources department should authorize employment. select a function Hiring EmployeesPaying the PayrollPreparing the PayrollTimekeeping d. Two or more employees should verify payroll amounts. select a function
- Which of the following activities performed by a department supervisor most likely would help to prevent or detect a payroll fraud?a. Distributing paychecks directly to department employees.b. Setting the pay rate for departmental employees.c. Hiring employees and authorizing them to be added to payroll.d. Approving a summary of hours each employee worked during the pay period.45. According to the GAM for NGAs, disbursements for salaries and wages shall be supported by: Disbursement vouchers Payroll Petty cash vouchers Official receiptsPayroll: Risks and Controls Below are some of the processes that are typically executed before, during, and after a payroll cycle: Employees record their hours worked. The supervisor reviews and approves each employee's time records with their signature. An officer from the Human Resources department updates employee files after receiving authorized records of overtime and leaves (vacations, illness, etc.) from the supervisor. Afterward, approved records are sent to the payroll officer in the accounting department. The payroll officer calculates the gross payment, applies deductions, and calculates the net payment. Subsequently, the final payroll is sent for the controller's approval. Payments are issued to employees using their preferred delivery method (check or direct deposit). Entries are generated for the corresponding payroll transactions. Withholdings for payroll taxes, Social Security, and Medicare are respectively remitted to the Department of Treasury and the Internal…
