Which One of the Following Statements About Payroll Is Incorrect

question 22

Multiple Choice

Which one of the following statements about payroll is incorrect -

• A)you must record an hourly rate,salary or commission to process a paycheque
• B)the program calculates EI,CPP and Income Tax based on federal tax tables
• C)you must enter amounts for RRSP and Medical manually in the payroll journals
• D)the payroll ledgers do not have a single control account

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Definitions:

Corporation

A legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—recognized as a separate entity from its owners, with its own rights and liabilities.

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Collections of individuals who interact with each other based on shared interests, beliefs, or characteristics.

Ideologies

Systems of beliefs and values that shape societal norms, guiding political, economic, and social actions and perceptions.

Social Reality

The sum of social constructs, institutions, relationships, and cultural norms that define the social world and human interaction within it.