If Wages Expense Is $450,000 and the Beginning and Ending

question 146

Multiple Choice

If wages expense is $450,000 and the beginning and ending balances of wages payable are $18,000 and $16,500,respectively,the cash paid to employees is:

• A)$450,000
• B)$433,500
• C)$448,500
• D)$451,500

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Definitions:

Market Failure

A situation in which the allocation of goods and services by a free market is not efficient, often due to externalities, monopolies, or information asymmetries.

Efficient Outcome

An optimal allocation of resources where it is impossible to improve one party's position without worsening another's, often associated with maximized total welfare or utility in an economic context.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total net benefits to society from the trade.

Price Of Ethanol

The cost at which ethanol, a type of alcohol used as fuel, is sold in the market.