After the payroll total has been agreed upon, often a separate bank account is set up to pay the amount.This account is referred to as:
A) a completed transaction account.
B) avoided cheque account.
C) a cashiered account.
D) an imprest payroll account.

Question

Quizplus · Accepted Answer

An imprest payroll account is a separate bank account set up specifically for payroll that allows for easy tracking and management of payroll expenses. This account is funded periodically with the exact amount needed for payroll, making it an imprest account. Therefore, option D is the correct choice. The other options are not related to payroll accounts.

After the Payroll Total Has Been Agreed Upon, Often a Separate