Question

QUESTION 5 1. Which of the following controls best helps to prevent an overstatement of payroll expense? c Requiring salaried employees to fill out time sheets justifying how they spent their 40-hour week. Hiring only highly qualified personnel by thoroughly screening potential employees during college campus interviews. c Having the manager who approves payroll pass out the paychecks to employees. cRequiring accounting personnel to approve the hours worked by hourly employees. Filing termination paperwork when an employee leaves the Company and forwarding a copy to the payroll department. 1 points QUESTION 6 1. Which step in the accounting process directly precedes the preparation of closing entries? c preparation and posting of adjusting entries o preparation of unadjusted trial balance preparation of financial statements "I O preparation of adjusted trial balance o preparation of internal documents

Answer 1

5.) Option - 'E'

Filing termination paperwork when an employee leaves the company and forwarding a copy to the payroll department control best hepls to prevent an overstatement of payroll expense.

6.) Option -'C'

Preparation of financial statements is the step in accounting process directly precedes the preparation of closing entries.