Which of the following is a potential consequence of incorrect calculation of employee time for payroll purposes? (Select all that apply.)
A) Federal penalties for not remitting all taxes due
B) Erosion of available cash because of overpayments to employees
C) Increased stakeholder approval due to employee overpayments
D) An increase in legal proceedings initiated by employees

Question

Quizplus · Accepted Answer

Incorrect calculation of employee time for payroll purposes can lead to federal penalties for not remitting all taxes due, erosion of available cash because of overpayments to employees, and an increase in legal proceedings initiated by employees. Increased stakeholder approval due to employee overpayments is not a potential consequence of incorrect calculation of employee time for payroll purposes.

Which of the Following Is a Potential Consequence of Incorrect