The Source Document That Records the Amount of Time an Employee

question 8

Multiple Choice

The source document that records the amount of time an employee worked on a job and his/her pay rate is the

• A)job-order cost sheet.
• B)employee time sheet.
• C)interoffice memo.
• D)labor requisition form.

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Definitions:

Investing Activity

Transactions involving the purchase and sale of long-term assets and other investments not considered as cash equivalents.

Interest

Payment for the use of another person’s money.

Bonds Payable

Bonds payable refers to long-term debt instruments issued by a company to investors, promising to pay back with interest at specified maturity dates.

Operating Activities

Cash flow activities that include the cash effects of transactions that create revenues and expenses and thus enter into the determination of net income.