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Chapter 13

Study Guide

Multiple Choice

Multiple Choice

This activity contains 12 questions.

	Human capital:   can be a company's most valuable asset. is reflected on the company's financial statements under soft assets. is initially capitalized and then amortized over the period. maintains longstanding relationships and service knowledge. two of the above three of the above

	Which of the following include year-to-date totals?   Deduction register Payroll register Earnings statement Skills inventory report None of the above

	Bonus pay schemes are successful if:   they are based on attainable goals. goal attainment is within the control of the employees. the bonus scheme results in a larger take-home pay. two of the above all of the above none of the above

	Resumes are key to finding the appropriate employee for a specific job. Resumes:   should be created with the idea that the employers will verify the information contained on them. have been found to contain false or embellished information 30% of the time. are ineffective in finding a job. two of the above none of the above

	What is the principal output of the payroll system?   Human resources Paychecks Labor Earnings statements None of the above

	Time cards are used to report employees' service hours to an organization. Yet, professionals seldom record their labor efforts on time cards. How is the organization able to validate these people's labor?   Self-reported billing information Informal monitoring by supervisors There is no need to validate these people's labor. Time cards are prepared for these people in the payroll office. Two of the above.

	Paychecks should be distributed by:   the department manager. the payroll office. the cashier. being left on a table by the time clock for employees to pick up as they leave. none of the above.

	Where are year-to-date totals stored within the company's payroll system?   Payroll totals file Payroll transaction file Payroll master file Two of the above All of the above

	What is the exposure to hiring a larcenous employee in the receiving area of a company with good internal controls?   $10,000 Stolen finished goods Stolen raw materials Two of the above None of the above

	Which of the following controls losses due to the theft or fraudulent distribution of paychecks?   Direct deposit of checks Investigation of unclaimed checks Prenumbering of all paychecks Paycheck distribution by someone independent of the payroll process Three of the above All of the above

	Which of the following checks are useful in detecting inaccuracies in time and attendance records?   Validity checks on employee numbers Limit checks on hours worked Reasonableness tests of production data, such as comparing the quantity produced with the master production schedule Batch totals Three of the above All of the above

	Which of the following are strategic benefits of a well-designed (HRM)/payroll database?   Easier to monitor proper training of employees Helps companies more effectively utilize existing employee skills (HRM) activities can be preformed more efficiently, thereby reducing costs Makes information more easily accessible to managers Three of the above All of the above

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