How is the payroll and personnel cycle different from other cycles?
A) Transactions are more significant than related balance sheet accounts.
B) Internal controls for payroll are effective for most companies.
C) There is only one class of transactions.
D) all of the above

Question

Quizplus · Accepted Answer

The payroll and personnel cycle differs from other cycles in that the transactions are more significant than related balance sheet accounts. This is because the primary focus is on employee compensation, which is a significant expense for most companies, and therefore requires thorough and accurate processing.

Answer: D 
 The payroll and personnel cycle differs from other cycles in that transactions are more significant than related balance sheet accounts, internal controls for payroll are effective for most companies, and there is only one class of transactions. These factors combine to make the payroll and personnel cycle unique and requiring special attention in terms of internal controls and accuracy of processing.

How Is the Payroll and Personnel Cycle Different from Other