After Posting the Entries to Record Salary Expenses and Payroll

question 14

True/False

After posting the entries to record salary expenses and payroll expenses, Alpha Company's Employment Insurance Payable account has a $9,000 credit balance. This means that the payroll tax expense of Alpha Company included a $9,000 expense resulting from Employment Insurance.

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Definitions:

Selection Criteria

The standards or requirements used to evaluate and choose among alternatives, such as hiring employees or selecting projects.

Communication

The exchange of information or news between people through speaking, writing, or using some other medium.

Trust

A foundational element in relationships and teams, denoting the confidence in someone's reliability, integrity, and abilities.

Policies

Principles or rules created by an organization to guide decisions and achieve rational outcomes.