The Payroll Journal Transaction Report Screen Does Not Show -

question 3

Multiple Choice

The payroll journal transaction report screen does not show -

• A)if the employee is paying RRSP contributions
• B)if the employee is receiving an advance
• C)the employee's gross pay amount
• D)if the employer is retaining vacation pay

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Definitions:

Receivables

These are amounts owed to a business by its customers for goods or services delivered on credit.

GAAP

Generally Accepted Accounting Principles, a set of accounting rules and standards used in the United States for preparing financial statements.

IFRS

A collection of worldwide accounting rules for financial reporting, known as International Financial Reporting Standards.

Credit Card Sale

A transaction in which the purchase of goods or services is made using a credit card, allowing customers to delay payment and sellers to receive immediate funds.