Payroll cycle Flashcards
1
Q
What are the 2 most significant accounts in the payroll cycle?
A
Salaries and wages
Short-term liabilities
2
Q
What is an inherent risk in the payroll cycle?
A
Payroll is a major expense
What are the 2 most significant accounts in the payroll cycle?
Salaries and wages
Short-term liabilities
What is an inherent risk in the payroll cycle?
Payroll is a major expense