Where a Creditor Serves an Employer with an Order That

question 82

True/False

Where a creditor serves an employer with an order that requires the employer to retain a portion of the debtor's wages each payday,the employer has been served with an execution order.

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Definitions:

Payroll

The total amount paid to employees for a certain period.

Salary Expense

The total amount paid to employees as salaries over a period of time, representing a liability for services received by the business.

Fees Payable

Liabilities or amounts owed by a company for services rendered by others, not yet paid at the balance sheet date.

Balance Sheet

An accounting document showing the worth of a company's assets, debts, and owner's equity on a particular date.