Which of the Following Terms Refers to the Recording of Financial

question 89

Multiple Choice

Which of the following terms refers to the recording of financial transactions?

• A) bookkeeping
• B) accounting
• C) controlling
• D) budgeting
• E) auditing

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Definitions:

Salaries Expense

The total amount recorded by a business for the wages and salaries paid to employees during a reporting period.

Partially Funded Pension Rights

Pension benefits that are partially backed by funding; not fully financed in advance.

Pension Expense

The cost recognized by an employer for the estimated liabilities of pension payments to retirees.

Salaries Expense

The cost incurred by a company to pay for employee services performed during a period.