chapter 21GE.docx
《chapter 21GE.docx》由会员分享，可在线阅读，更多相关《chapter 21GE.docx（53页珍藏版）》请在冰豆网上搜索。
chapter21GE
AuditingandAssuranceServices,14e,GlobalEdition（Arens）
Chapter21AuditofthePayrollandPersonnelCycle
LearningObjective21-1
1）Whichofthefollowingstatementsaboutthepayrollandpersonnelcycleiscorrect?
A）
Therearethreeclassesoftransactionswithin
thepayrollcycle—
salariedemployees,
hourlyemployees,andcommissioned
employees.
Transactionsare
moresignificant
thanrelated
balancesheet
accounts.
Internalcontrols
overpayrollare
effectiveforalmost
allcompanies,even
smallones.
No
No
Yes
B）
Therearethreeclassesoftransactionswithin
thepayrollcycle—
salariedemployees,
hourlyemployees,andcommissioned
employees.
Transactionsare
moresignificant
thanrelated
balancesheet
accounts.
Internalcontrols
overpayrollare
effectiveforalmost
allcompanies,even
smallones.
Yes
No
Yes
C）
Therearethreeclassesoftransactionswithin
thepayrollcycle—
salariedemployees,
hourlyemployees,andcommissioned
employees.
Transactionsare
moresignificant
thanrelated
balancesheet
accounts.
Internalcontrols
overpayrollare
effectiveforalmost
allcompanies,even
smallones.
No
Yes
Yes
D）
Therearethreeclassesoftransactionswithin
thepayrollcycle—
salariedemployees,
hourlyemployees,andcommissioned
employees.
Transactionsare
moresignificant
thanrelated
balancesheet
accounts.
Internalcontrols
overpayrollare
effectiveforalmost
allcompanies,even
smallones.
No
Yes
No
Answer:
C
Terms:
Payrollandpersonnelcycle
Diff:
Easy
Objective:
LO21-1
AACSB:
Reflectivethinkingskills
2）Discussthreeimportantdifferencesbetweenthepayrollandpersonnelcycleandothercyclesinatypicalaudit.
Answer:
Threeimportantdifferencesbetweenthepayrollandpersonnelcycleandothercyclesinatypicalauditare:
•Thereisonlyoneclassoftransactionsforpayroll,whereasmostcyclesincludeatleasttwoclassesoftransactions.
•Inthepayrollcycle,transactionsarefarmoresignificantthanrelatedbalancesheetaccounts.
•Internalcontrolsoverpayrollareeffectiveforalmostallcompanies,evensmallones.Thisisprimarilyduetoseverefederalandstatepenaltiesforerrorsinwithholdingandpayingpayrolltaxesandemployeemoraleproblemsifemployeesarenotpaidorareunderpaid.
Terms:
Importantdifferencesbetweenpayrollandpersonnelcycleandothercyclesinaudit
Diff:
Moderate
Objective:
LO21-1
AACSB:
Reflectivethinkingskills
3）Mostcompanies,withtheexceptionofsmallones,haveeffectivecontrolsoverthepayrollcycle.
A）True
B）False
Answer:
B
Terms:
Effectivecontrolsoverpayrollcycle
Diff:
Easy
Objective:
LO21-1
AACSB:
Reflectivethinkingskills
4）Whilemostcyclesincludeatleasttwoclassesoftransactions,thepayrollandpersonnelcycleincludesonlyoneclassoftransactions.
A）True
B）False
Answer:
A
Terms:
Payrollandpersonnelcycleincludesoneclassoftransactions
Diff:
Easy
Objective:
LO21-1
AACSB:
Reflectivethinkingskills
5）Becauseofthecycle'spervasivenature,audittestsofthepayrollcycleareusuallyextensive.
A）True
B）False
Answer:
B
Terms:
Audittestsofpayrollcycle
Diff:
Moderate
Objective:
LO21-1
AACSB:
Reflectivethinkingskills
LearningObjective21-2
1）Whichofthefollowingdepartmentsismostlikelyresponsibleforpayratechangesandchangesindeductibleamountsforemployees?
A）GeneralAccounting
B）HumanResources
C）Treasury
D）Controller
Answer:
B
Terms:
Departmentresponsibleforpayratechanged
Diff:
Easy
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
2）Thepayrollandpersonnelcycleendswithwhichofthefollowingevents?
A）interviewingjobcandidates
B）hiringanewemployee
C）existingemployeessubmittingrequestsforpaymentforworkperformed
D）issuanceofpaychecks
Answer:
D
Terms:
Payrollandpersonnelcycle
Diff:
Easy
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
3）Whichofthefollowingincludesallpayrolltransactionsprocessedbytheaccountingsystemforagivenperiodoftime?
A）payrolljournal
B）payrolltransactionfile
C）timereport
D）payrollsummary
Answer:
B
Terms:
Includesallpayrolltransactionsprocessedbytheaccountingsystem
Diff:
Easy
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
4）Animprestpayrollaccountthathasasignificantbalancemayindicatethepresenceof:
A）employeeshavenotyetdepositedorcashedpayrollchecks.
B）fraudulenttransferoffundsbythecompany.
C）lackofcontrolsoverpayrolldistribution.
D）thecompanyisoverpayingitsemployees.
Answer:
A
Terms:
Imprestpayrollaccounthassignificantbalance
Diff:
Easy
Objective:
LO21-2
AACSB:
Analyticskills
5）Recordsthatincludedataaboutemployeessuchasemploymentdate,performanceratingsandpayratesarethe:
A）humanresourcerecords.
B）employeescreeningforms.
C）summarypayrollreports.
D）employeefolders.
Answer:
A
Terms:
Recordsthatincludedataaboutemployees
Diff:
Easy
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
6）Thecomputerfileusedforrecordingpayrolltransactionsforeachemployeeandmaintainingtotalwagespaidfortheyeartodateisthe:
A）payrolltransactionfile.
B）payrollmasterfile.
C）payrollbankaccountreconciliation.
D）payrolltaxreturns.
Answer:
B
Terms:
Computerfileusedforrecordingpayrolltransactions
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
7）Thefileforrecordingeachpayrolltransactionforeachemployeeandmaintainingtotalemployeewagespaidfortheyeartodateisthe:
A）payrollmasterfile.
B）summarypayrollreport.
C）payrolljournal.
D）jobtimeticket.
Answer:
A
Terms:
Fileforrecordingeachpayrolltransaction
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
8）Thetotaloftheindividualemployeeearningsinthepayrollmasterfileshouldequalthetotal:
A）balanceofgrosspayrollingeneralledgeraccounts.
B）ofthechecksdrawntoemployeesforpayroll.
C）grosspayrollplusthetotalcontributedbytheemployerforpayrolltaxes.
D）grosspayforthecurrentweek'spayroll.
Answer:
A
Terms:
Totalofindividualemployeeearningsinpayrollmasterfileequals
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
9）Whichdepartmentshouldbeauthorizedtoaddanddeleteemployeesfromthepayrollorchangepayratesanddeductions?
A）thesupervisingdepartment
B）theaccountingdepartment
C）thehumanresourcesdepartment
D）thetreasurer'sdepartment
Answer:
C
Terms:
Departmentauthorizedtoaddanddeleteemployeesfrompayroll
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
10）Theauditor,inauditingpayroll,wantstodeterminethattheindividualsincludedinhersamplewereemployeesofthecompanyfortheperiodunderreview.Whatistheauditor'sbestsourceofevidence?
A）ExaminationofHumanResourceRecords
B）ExaminationofthePayrollMasterFile
C）ExaminationofthePayrollTransactionFile
D）ExaminationofthePayrollTaxRecords
Answer:
A
Terms:
Auditorsourceofevidencetotestindividualsareemployeesofcompany
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
11）Whateventsinitiateandterminatethepayrollandpersonnelcycle?
Answer:
Thehiringofanemployeeinitiatesthecycleandthepaymentstoemployees,governments,andotherorganizationsterminatethecycle.
Terms:
Eventsthatinitiateandterminatethepayrollandpersonnelcycle
Diff:
Easy
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
12）Discusseachofthefollowingprimarydocumentsandrecordsusedinthepersonnelandemploymentfunctioninthepayrollandpersonnelcycle:
personnelrecords,deductionauthorizationform,andtherateauthorizationform.
Answer:
•Humanresourcerecords.Theserecordsincludeemployees'dateofemployment,personnelinvestigations,ratesofpay,authorizeddeductions,performanceevaluations,andterminationofemployment.
•Deductionauthorizationform.Thisformauthorizespayrolldeductions,includingthenumberofexemptionsforwithholdingofincometaxes,U.S.savingsbonds,anduniondues.
•Rateauthorizationform.Thisformauthorizesemployees'rateofpay.
Terms:
Primarydocumentsandrecordsusedinpersonnelandemploymentfunctioninpayrollandpersonnelcycle
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
13）Discusseachofthefollowingdocumentsandrecordsusedinthetimekeepingandpayrollpreparationfunctioninthepayrollandpersonnelcycle:
timecard,jobtimeticket,summarypayrollreport,payrolljournalandpayrollmasterfile.
Answer:
Theprimarydocumentsandrecordsusedinthetimekeepingandpayrollpreparationfunctionare:
•Timecard.Thetimecardisusedtoindicatethetimetheemployeestartedandstoppedworkingeachdayandthenumberofhourstheemployeeworked.
•Jobtimeticket.Thisdocumentindicatesjobsonwhichafactoryemployeeworkedduringagiventimeperiod.Thisformisusedonlywhenanemployeeworksondifferentjobsorindifferentdepartments.
•Summarypayrollreport.Thisreportsummarizespayrollforaperiod.
•Payrolljournal.Thisjournalisusedtorecordpayrollchecks.
•Payrollmasterfile.Thisfilecontainseachpayrolltransactionforeachemployee,alongwithtotalemployeewagespaidfortheyeartodate.
Terms:
Primarydocumentsandrecordsusedintimekeepingandpayrollpreparationfunctioninpayrollandpersonnelcycle
Diff:
Moderate
Objective:
LO21-2
AACSB:
Reflectivethinkingskills
14）Discusseachofthefollowingprimarydocumentsandrecordsusedinthe
（1）paymentofpayrollfun
升级会员 