Asked by Shubrenia Scott on Jun 24, 2024
Verified
Most employers use payroll checks drawn on a special bank account for paying the payroll.
Payroll Checks
Payroll checks are written documents issued by an employer to pay an employee for services rendered.
Special Bank Account
A bank account designated for a specific purpose or to handle particular types of transactions, separate from general accounts.
- Understand the utilization of special bank accounts for payroll processing.
Verified Answer
MA
Mallory AndersonJun 27, 2024
Final Answer :
True
Explanation :
Most employers use a separate bank account specifically for payroll. This helps keep track of payroll expenses and ensures that employees are paid accurately and on time. Payroll checks are typically drawn from this account.
Learning Objectives
- Understand the utilization of special bank accounts for payroll processing.