Auditing Chapter 12 Quiz, Chapter 13 Quiz, and Test #2

Auditing Chapter 12 Quiz, Chapter 13 Quiz, and Test #2 -...

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Chapter 12 Quiz Review of attempt 1 Started on Tuesday, February 22, 2011, 10:17 PM Completed on Tuesday, February 22, 2011, 11:01 PM Time taken 44 mins 27 secs Grade 9 out of a maximum of 10 ( 90 %) Question 1 Marks: 1 Which of the following internal control activities could best prevent direct labor from being charged to manufacturing overhead? Choose one answer. a. Reconciliation of work in process inventory with cost records b. Comparison of daily journal entries with the factory labor summary c. Comparison of period costs budgets and time cards d. Reconciliation of the unfinished job summary and production cost records Correct Marks for this submission: 1/1. Question 2 Marks: 1 Which of the following departments most likely would approve changes in pay rates and deductions from employee salaries? Choose one answer. Correct Marks for this submission: 1/1. Question 3 Marks: 1 An effective system of internal control over the payroll function would include Choose one answer. Correct
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Marks for this submission: 1/1. Question 4 Marks: 1 Effective internal control over the payroll function would include which of the following? Choose one answer. Correct Marks for this submission: 1/1. Question 5 Marks: 1 In the weekly computer run to prepare payroll checks, a check was printed for an employee who had been terminated the previous week. Which of the following controls, if properly utilized, would have been most effective in preventing the error or ensuring its prompt detection? Choose one answer. a. A control total for hours worked, prepared from time cards collected by the Timekeeping Department b. Requiring the treasurer's office to account for the numbers of the prenumbered checks issued to the EDP department for the processing of the payroll c. Use of a check digit for employee numbers d. Use of a header label for the payroll input sheet Incorrect Marks for this submission: 0/1.
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