chapter 21GEWord格式.docx
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chapter 21GEWord格式.docx
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balancesheet
accounts.
Internalcontrols
overpayrollare
effectiveforalmost
allcompanies,even
smallones.
No
Yes
B)
C)
D)
Answer:
C
Terms:
Payrollandpersonnelcycle
Diff:
Easy
Objective:
LO21-1
AACSB:
Reflectivethinkingskills
2)Discussthreeimportantdifferencesbetweenthepayrollandpersonnelcycleandothercyclesinatypicalaudit.
Threeimportantdifferencesbetweenthepayrollandpersonnelcycleandothercyclesinatypicalauditare:
•Thereisonlyoneclassoftransactionsforpayroll,whereasmostcyclesincludeatleasttwoclassesoftransactions.
•Inthepayrollcycle,transactionsarefarmoresignificantthanrelatedbalancesheetaccounts.
•Internalcontrolsoverpayrollareeffectiveforalmostallcompanies,evensmallones.Thisisprimarilyduetoseverefederalandstatepenaltiesforerrorsinwithholdingandpayingpayrolltaxesandemployeemoraleproblemsifemployeesarenotpaidorareunderpaid.
Importantdifferencesbetweenpayrollandpersonnelcycleandothercyclesinaudit
Moderate
3)Mostcompanies,withtheexceptionofsmallones,haveeffectivecontrolsoverthepayrollcycle.
A)True
B)False
B
Effectivecontrolsoverpayrollcycle
4)Whilemostcyclesincludeatleasttwoclassesoftransactions,thepayrollandpersonnelcycleincludesonlyoneclassoftransactions.
A
Payrollandpersonnelcycleincludesoneclassoftransactions
5)Becauseofthecycle'
spervasivenature,audittestsofthepayrollcycleareusuallyextensive.
Audittestsofpayrollcycle
LearningObjective21-2
1)Whichofthefollowingdepartmentsismostlikelyresponsibleforpayratechangesandchangesindeductibleamountsforemployees?
A)GeneralAccounting
B)HumanResources
C)Treasury
D)Controller
Departmentresponsibleforpayratechanged
LO21-2
2)Thepayrollandpersonnelcycleendswithwhichofthefollowingevents?
A)interviewingjobcandidates
B)hiringanewemployee
C)existingemployeessubmittingrequestsforpaymentforworkperformed
D)issuanceofpaychecks
D
3)Whichofthefollowingincludesallpayrolltransactionsprocessedbytheaccountingsystemforagivenperiodoftime?
A)payrolljournal
B)payrolltransactionfile
C)timereport
D)payrollsummary
Includesallpayrolltransactionsprocessedbytheaccountingsystem
4)Animprestpayrollaccountthathasasignificantbalancemayindicatethepresenceof:
A)employeeshavenotyetdepositedorcashedpayrollchecks.
B)fraudulenttransferoffundsbythecompany.
C)lackofcontrolsoverpayrolldistribution.
D)thecompanyisoverpayingitsemployees.
Imprestpayrollaccounthassignificantbalance
Analyticskills
5)Recordsthatincludedataaboutemployeessuchasemploymentdate,performanceratingsandpayratesarethe:
A)humanresourcerecords.
B)employeescreeningforms.
C)summarypayrollreports.
D)employeefolders.
Recordsthatincludedataaboutemployees
6)Thecomputerfileusedforrecordingpayrolltransactionsforeachemployeeandmaintainingtotalwagespaidfortheyeartodateisthe:
A)payrolltransactionfile.
B)payrollmasterfile.
C)payrollbankaccountreconciliation.
D)payrolltaxreturns.
Computerfileusedforrecordingpayrolltransactions
7)Thefileforrecordingeachpayrolltransactionforeachemployeeandmaintainingtotalemployeewagespaidfortheyeartodateisthe:
A)payrollmasterfile.
B)summarypayrollreport.
C)payrolljournal.
D)jobtimeticket.
Fileforrecordingeachpayrolltransaction
8)Thetotaloftheindividualemployeeearningsinthepayrollmasterfileshouldequalthetotal:
A)balanceofgrosspayrollingeneralledgeraccounts.
B)ofthechecksdrawntoemployeesforpayroll.
C)grosspayrollplusthetotalcontributedbytheemployerforpayrolltaxes.
D)grosspayforthecurrentweek'
spayroll.
Totalofindividualemployeeearningsinpayrollmasterfileequals
9)Whichdepartmentshouldbeauthorizedtoaddanddeleteemployeesfromthepayrollorchangepayratesanddeductions?
A)thesupervisingdepartment
B)theaccountingdepartment
C)thehumanresourcesdepartment
D)thetreasurer'
sdepartment
Departmentauthorizedtoaddanddeleteemployeesfrompayroll
10)Theauditor,inauditingpayroll,wantstodeterminethattheindividualsincludedinhersamplewereemployeesofthecompanyfortheperiodunderreview.Whatistheauditor'
sbestsourceofevidence?
A)ExaminationofHumanResourceRecords
B)ExaminationofthePayrollMasterFile
C)ExaminationofthePayrollTransactionFile
D)ExaminationofthePayrollTaxRecords
Auditorsourceofevidencetotestindividualsareemployeesofcompany
11)Whateventsinitiateandterminatethepayrollandpersonnelcycle?
Thehiringofanemployeeinitiatesthecycleandthepaymentstoemployees,governments,andotherorganizationsterminatethecycle.
Eventsthatinitiateandterminatethepayrollandpersonnelcycle
12)Discusseachofthefollowingprimarydocumentsandrecordsusedinthepersonnelandemploymentfunctioninthepayrollandpersonnelcycle:
personnelrecords,deductionauthorizationform,andtherateauthorizationform.
•Humanresourcerecords.Theserecordsincludeemployees'
dateofemployment,personnelinvestigations,ratesofpay,authorizeddeductions,performanceevaluations,andterminationofemployment.
•Deductionauthorizationform.Thisformauthorizespayrolldeductions,includingthenumberofexemptionsforwithholdingofincometaxes,U.S.savingsbonds,anduniondues.
•Rateauthorizationform.Thisformauthorizesemployees'
rateofpay.
Primarydocumentsandrecordsusedinpersonnelandemploymentfunctioninpayrollandpersonnelcycle
13)Discusseachofthefollowingdocumentsandrecordsusedinthetimekeepingandpayrollpreparationfunctioninthepayrollandpersonnelcycle:
timecard,jobtimeticket,summarypayrollreport,payrolljournalandpayrollmasterfile.
Theprimarydocumentsandrecordsusedinthetimekeepingandpayrollpreparationfunctionare:
•Timecard.Thetimecardisusedtoindicatethetimetheemployeestartedandstoppedworkingeachdayandthenumberofhourstheemployeeworked.
•Jobtimeticket.Thisdocumentindicatesjobsonwhichafactoryemployeeworkedduringagiventimeperiod.Thisformisusedonlywhenanemployeeworksondifferentjobsorindifferentdepartments.
•Summarypayrollreport.Thisreportsummarizespayrollforaperiod.
•Payrolljournal.Thisjournalisusedtorecordpayrollchecks.
•Payrollmasterfile.Thisfilecontainseachpayrolltransactionforeachemployee,alongwithtotalemployeewagespaidfortheyeartodate.
Primarydocumentsandrecordsusedintimekeepingandpayrollpreparationfunctioninpayrollandpersonnelcycle
14)Discusseachofthefollowingprimarydocumentsandrecordsusedinthe
(1)paymentofpayrollfun
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