Which of the following statements about the payroll and personnel ...

[rubiosusy7]

Question 1

Discuss three important differences between the payroll and personnel cycle and other cycles in a typical audit.

Question 2

Which of the following statements about the payroll and personnel cycle is correct?
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There are three classes of transactions within  the payroll cycle -  salaried employees,  hourly employees, and commissioned  employees.	Transactions are  more significant  than related  balance sheet  accounts.	Internal controls  over payroll are  effective for almost  all companies, even  small ones.
No	No	Yes

◦

There are three classes of transactions within  the payroll cycle -  salaried employees,  hourly employees, and commissioned  employees.	Transactions are  more significant  than related  balance sheet  accounts.	Internal controls  over payroll are  effective for almost  all companies, even  small ones.
Yes	No	Yes

◦

There are three classes of transactions within  the payroll cycle -  salaried employees,  hourly employees, and commissioned  employees.	Transactions are  more significant  than related  balance sheet  accounts.	Internal controls  over payroll are  effective for almost  all companies, even  small ones.
No	Yes	Yes

◦

There are three classes of transactions within  the payroll cycle -  salaried employees,  hourly employees, and commissioned  employees.	Transactions are  more significant  than related  balance sheet  accounts.	Internal controls  over payroll are  effective for almost  all companies, even  small ones.
No	Yes	No

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[rubiosusy7]

Thanks for the timely response, appreciate it

[LVPMS]

Excellent