Garnishments May Include Deductions from Employee Wages on a Post-Tax

question 50

Multiple Choice

Garnishments may include deductions from employee wages on a post-tax basis for items such as: (Select all that apply.)

• A) Charitable contributions.
• B) Consumer Credit liens.
• C) Child Support payments.
• D) Union Dues.

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Definitions:

Cost Concept

An accounting principle that states all assets and services purchased by a company should be recorded at their cost price.

Market Value

The present rate at which a service or asset may be purchased or sold in the market.

Accounting Records

Documents and books that keep systematic financial data and transactions of a person, company, or entity.

Ethical Lapses

Instances where individuals or organizations fail to act in accordance with their moral or ethical standards.