Question

The payroll and personnel cycle ends with which of the following events?

1) Interviewing job candidates
2) Hiring a new employee
3) Existing employees submitting requests for payment for work performed
4) Issuance of paychecks

Answer 1

The payroll and personnel cycle concludes with the issuance of paychecks to employees. This final step reflects the completion of a work period and the fulfillment of payroll tax obligations by the employer.

Step-by-step explanation:

The payroll and personnel cycle ends with the issuance of paychecks, which is the final step in the process of compensating employees for their work. This step signifies that employees have completed their duties for a particular pay period and are receiving their earned wages. Payroll taxes are a critical part of this process, as they are calculated during the payroll preparation and are withheld from an employee's earnings or matched by the employer, to be then paid to the appropriate tax authorities. This cycle includes various stages such as determining the need for employees, recruitment, selection, setting employment terms, managing payroll, remitting taxes, and potentially, concluding with termination or resignation.