Which of the following circumstances most likely would

Assignment Help Accounting Basics
Reference no: EM13453687

Which of the following circumstances most likely would cause an auditor to suspect an employee payroll fraud scheme?

a) Payrolls checks are disbursed be the same employee each payday.

b) There are significant unexplained variances between standard and actual labor cost.

c) Employee time cards are approved by individual departmental supervisors.

d) A separate payroll bank account is maintained on an imprest basis.

Reference no: EM13453687

Questions Cloud

What is the chemical equation for photosynthesis examine : 1 cite four trends that indicate that the health of the planet earth nbspis suffering2. what are the concept behind
Which of the following best explains the validity audit : which of the following best describes the validity audit objectives for inventory?a purchase requisitions
If preparation of a periodic scrap report is essential in : if preparation of a periodic scrap report is essential in order to maintain adequate control over the manufacturing
Identify the problem select and research a social issue : in this course you have been introduced to ethics social problems and social policy. this assignment will prompt action
Which of the following circumstances most likely would : which of the following circumstances most likely would cause an auditor to suspect an employee payroll fraud scheme?a
Comment on how you reduced your footprintnbsp would you : comment on how you reduced your footprint.nbsp would you be willing to do this for more than a week?nbsp what else
An auditor vouched data for the sample of employees in : an auditor vouched data for a sample of employees in a payroll register to approved clock card data to provide
The united states has had the significant trade imbalance : the united states has had a significant trade imbalance for several years. what are the problems associated with
When examining payroll transactions an auditor is primarily : when examining payroll transactions an auditor is primarily concerned with the possibility ofa posting of gross

Reviews

Write a Review

Accounting Basics Questions & Answers

  To prevent fraudulent shipments of merchandise

1.to prevent fraudulent shipments of merchandise organizations shoulda.match every receiving slip to an approved

  Calculate desired profit

MBA 640 Exam 1,  Spring 1, 2014 Suppose that Smith follows a strategy of one of its competitors which is to spend $200,000 on advertising so that there is more brand awareness.

  Value chain analysis to identify value-creating activities

Conduct a Value Chain analysis to identify value-creating activities. Determine if the company has a sustainable competitive advantage, supporting your claim(s) or recommending action(s).

  Overhead rate calculation-allocation and analysis

Determine the company's predetermined overhead rate for year 2011. Assuming that the company's $57,000 ending Goods in Process Inventory account for year 2011 had $18,000 of direct labor costs, determine the inventory's direct materials costs.

  Palm trees to earn a profit

Palms, Inc. wants to sell enough palm trees to earn a profit of $20,000. If the unit sales price is $40, unit variable cost is $22, and total fixed costs are $120,400, how many trees must be sold to earn income of $20,000

  Determining the income tax rate

Piper's income before depreciation, before income taxes, and before the cummulative effect of the accounting change (if any), for the year ended december 31, 2011, is $250,000. The income tax rate for 2011, as well as for the years.

  How are guaranteed payments handled

Why is it important to calculate the basis of each partner's interest in the partnership? Is the partner taxed on his basis in the partnership each year? Is the partner taxed on his share of the Net Income of the partnership? How are guaranteed pa..

  What is cost of goods manufactured

work in process inventory on december 31,2011, is $42,000. work in process inventory decreased 40% during 2011. total manufacturing cost incurred in 2011 amount to $260,000. what is cost of goods manufactured?

  Compute depreciation a machine cost 500000 on april 1 2008

calculate depreciation. a machine cost 500000 on april 1 2008. its estimated salvage value is 50000 and its expected

  Determining audit judgments

Determine sample size based on the following audit judgments.

  Gve an example of direct cost and indirect cost from your

provide an example of a direct cost and indirect cost from your workplace or an organization with which you are

  Which option would you prefer and why

Big Al's Pizza Managerial Accounting Part Seven: Using net present value (NPV) analysis compare the present value of the lease payments with the cost of buying the equipment to replace the leased equipment as explained in Part Seven. Assume a 10% ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd