Law College

Question 1 of 10
Which of the following is an internal function of a business's accounting
department?
O A. Coordinating accounts receivable
O B. Administering employee payroll
C. Coordinating accounts payable
OD. Managing credit and collections accounts

Answers

Answer 1

Answer:

B. Administering employee payroll

Explanation:

I took the test

Answer 2

Administering employee payroll is an internal function of a business's accounting department. Hence, option B is correct.

What is employee payroll?

Keeping track of hours worked, determining compensation, and sending checks or direct deposits to employees' bank accounts are all part of the payroll process, which is the procedure for paying employees of a corporation.

Payroll is the process of compensating the employees for the work they perform. It involves calculating their pay, deducting taxes and employee benefit costs, and making money to them, typically via direct deposit. With payroll processing software, these processes can be automated by both small and large businesses.

Salary is the annual remuneration that each employee is contractually required to receive.

Thus, option B is correct.

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