Of the Key Accounting Reports That a New Businessperson Should

question 17

Multiple Choice

Of the key accounting reports that a new businessperson should be prepared to generate, which of the following tracks the work times of hourly employees and attendance for salaried employees?

• A)A payroll record
• B)An accounts payable record
• C)A chart of accounts
• D)An expense account

---

Definitions:

Social Commentators

Individuals who offer insight, opinions or commentary on social trends, behaviors, and events.

Ethnocentrism

The tendency to evaluate other cultures according to the standards and customs of one's own culture, often leading to prejudice against other cultures.

Negative Sanctions

Punishments or penalties applied by a society or a group within a society against its members who violate established norms, laws, or expectations.

Authoritative Body

An organization or institution possessing the power, credibility, and legitimacy to enforce rules, make decisions, and govern within a specific domain or sector.