Payroll Hours on Time Slips -

question 5

Multiple Choice

Payroll hours on time slips -

• A) must be added for each employee paycheque, even if they are not used to determine the paycheque amount
• B) must equal the number of hours billed to customers
• C) must equal the number of hours actually worked on activities
• D) are not used for employee paycheques; they only provide employee efficiency data

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Definitions:

Lump Sum

A single payment made at a particular time, as opposed to multiple payments made over time.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Discount Rate

The interest rate applied within the framework of discounted cash flow analysis to estimate the present value of future cash inflows.

Present Value

The present-day worth of money expected in the future or series of cash flows, calculated using a fixed rate of return.