In which transaction cycle would information relating to employees benefit be most likely to pass between internal and external accounting information systems?
A)the revenue cycle
B)the expenditure cycle
C)the human resources / payroll cycle
D)the financing cycle

Question

Quizplus · Accepted Answer

The human resources/payroll cycle is specifically designed to record and process transactions related to employees' benefits, taxes, and payroll. This cycle involves both internal and external accounting information systems, as it requires information to be passed between the payroll system and other systems such as general ledger and tax reporting. Therefore, the information related to employees' benefits is most likely to pass between internal and external accounting information systems during the human resources/payroll cycle.

In Which Transaction Cycle Would Information Relating to Employees Benefit