Effective internal control over unclaimed payroll checks that are kept by the Treasury Department would include Accounting Department procedures that require
A) Effective cancellation and stop payment orders for checks representing unclaimed wages.
B) Redepositing unclaimed wages after a period of 3 months.
C) Accounting for all unclaimed wages in a current liability account.
D) Periodic accounting for the actual checks representing unclaimed wages.

Question

Quizplus · Accepted Answer

The Answer of Effective internal control over unclaimed payroll checks that are kept by the Treasury Department would include Accounting Department procedures that require
A) Effective cancellation and stop payment orders for checks representing unclaimed wages.
B) Redepositing unclaimed wages after a period of 3 months.
C) Accounting for all unclaimed wages in a current liability account.
D) Periodic accounting for the actual checks representing unclaimed wages.

Effective Internal Control Over Unclaimed Payroll Checks That Are Kept