The Wages and Salaries Expense Account Would Be Used to Record

question 89

Multiple Choice

The Wages and Salaries Expense account would be used to record

• A) net earnings for the office workers.
• B) a credit to the amount owed to the office workers.
• C) gross earnings for the office workers.
• D) a debit for the amount of net pay owed to the office workers.

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Definitions:

Noncontrolling Interest

A stake in a company owned by minority shareholders that doesn’t give them control over the company's operational and financial decisions.

Noncontrolling Interest

A minority share in a subsidiary that is not enough to exert control, often reflected in the parent company's financial statements as part of equity but separate from the parent's equity.

Consolidated Balance Sheet

A financial statement that combines all the assets, liabilities, and equity of a parent company and its subsidiaries into one document.

Acquisition

The process by which one company purchases most or all of another company's shares to gain control of that company.