Contemporary payroll practices reflect:
A)The increased use of manual payroll accounting systems.
B)The decrease in labor costs that reflects the effect of the economic recession.
C)The strategic use of payroll data as a company planning tool.
D)The replacement of accounting personnel with computerized systems.

Question

Quizplus · Accepted Answer

Contemporary payroll practices reflect the strategic use of payroll data as a company planning tool. With advanced technology, payroll data can be easily analyzed, and companies can use it to make informed decisions about employee compensation, benefits, and overall financial planning. The other options listed (A, B, and D) are not reflective of contemporary payroll practices, as manual payroll accounting systems are becoming less common, labor costs have not necessarily decreased due to the economic recession, and while computerized systems have replaced some accounting personnel, this is not the main trend in contemporary payroll practices.

Contemporary Payroll Practices Reflect