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List of Statements 1. The payroll department should use personnel action forms (new employees and terminated employees) to validate employees before they are issued a check. 2. Upon completion, the daily time cards are routed to the cost accountants who use them to post the labor costs to specific WIP accounts such as direct labor, indirect labor and overhead. Which of the statement(s) above is(are) invalid? O Both statements are valid O Statement 2 O Statement 1 Both statements are invalid Answer only

List of Statements 1. The payroll department should use personnel action forms (new employees and terminated employees) to validate employees before they are issued a check. 2. Upon completion, the daily time cards are routed to the cost accountants who use them to post the labor costs to specific WIP accounts such as direct labor, indirect labor and overhead. Which of the statement(s) above is(are) invalid? O Both statements are valid O Statement 2 O Statement 1 Both statements are invalid Answer only

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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9 List of Statements 1. The payroll department should use personnel action forms (new employees and terminated employees) to validate employees before they are issued a check. 2. Upon completion, the daily time cards are routed to the cost accountants who use them to post the labor costs to specific WIP accounts such as direct labor, indirect labor and overhead. Which of the statement(s) above is(are) invalid? O Both statements are valid O Statement 2 O Statement 1 Both statements are invalid Answer only
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