Which Accounts Are Affected When the Company Pays Salaries

question 97

Multiple Choice

Which accounts are affected when the company pays salaries?

• A)Assets and Capital
• B)Liabilities and revenue
• C)Assets and Expenses
• D)None of the above is correct.

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Definitions:

Ultra Vires Act

An action or conduct that goes beyond the powers or authority granted by law or under a company's constitution or articles.

Express Powers

Specific rights and powers explicitly given to an entity or governing body through a legal document or statute.

Express Powers

Specific authorities explicitly granted to an entity or official in a legal document or statute.

Articles Of Incorporation

Legal documents filed with a governmental body to legally document the creation of a corporation.