The Adjusting Entry at the End of an Accounting Period

question 100

Multiple Choice

The adjusting entry at the end of an accounting period to record the unpaid salaries of employees for work provided is:

• A)Debit Unpaid Salaries and credit Salaries Payable.
• B)Debit Salaries Payable and credit Salaries Expense.
• C)Debit Salaries Expense and credit Cash.
• D)Debit Salaries Expense and credit Salaries Payable.
• E)Debit Cash and credit Salaries Expense.

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Definitions:

Budget Procedures

Budget Procedures are systematic processes used by organizations to create a budget, involving estimating revenues, expenses, and allocating resources for various functions.

Financial Budget

A plan for an organization's financial resources, detailing income and expenditures over a certain period.

Budget Process

The procedure for creating a budget, including planning, review, approval, implementation, and evaluation of financial plans.

Tandem Bicycles

Bicycles designed for use by two riders positioned one behind the other, requiring coordination for effective operation.