ACC 564 TUTOR Start With a Dream / ACC 564 TUTOR Start With a Dream / - Page 38

The average annual middle-management salary at Folding Squid Technologies is $60,000. If the average turnover rate for middle management is ten employees per year, what is the approximate average annual cost of turnover? Question 8 What is the purpose of a general ledger payroll clearing account? Question 9 Which of the following is a control that can be implemented to help prevent paychecks being issued to a "phantom" or "ghost" employee? Question 10 The results of an internal audit finds that there is a problem with inaccurate time data being entered into the payroll system. What is an applicable control that can help prevent this event from occurring in the future? Question 11 Cheryl Liao is an accountant at Folding Squid Technologies. While making an adjusting entry to the general ledger, she received the following error message when she tried to save her entry, "The data you have entered does not include a source reference code. Please enter this data before saving." This message was the result of a Question 12 Entries to update the general ledger are often documented by which of the following? Question 13 Immediately after the adjusting entries are posted, the next step in the general ledger and reporting system is to prepare Question 14