The pay of top corporate officers is set by the board of directors.

Which of the following is true of good internal controls over payroll?

A) Accounting for payroll should be separate from hiring and firing of employees. B) Disbursement of paychecks should not be separate from the function of maintaining payroll records. C) Hiring and firing employees should not be separated from accounting and from disbursing paychecks. D) Cash receipts from customers should be separated from the accounting for accounts receivable.

Partial payments of an original voucher require new vouchers for each approved payment

Indicate whether the statement is true or false.