Employers Usually Prepare Which of the Following Types of Payroll

question 63

Multiple Choice

Employers usually prepare which of the following types of payroll records?

• A) payroll register,employee earnings record,and payroll check
• B) payroll register,payroll ledger,and employee earnings record
• C) payroll journal,employee earning record,and payroll ledger
• D) employee earning record,payroll check,and payroll ledger

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Definitions:

Transactions

The exchange of goods, services, or funds between two or more parties, forming the basis of accounting records.

Debit Credit

The two aspects of every financial transaction, where debit increases assets or expenses and credit increases liabilities, equity, or income.

Par Value

The nominal value of a bond, share of stock, or coupon as stated by the issuer, often used as a legal face value.

Common Stock

Holding shares in a company grants investors a portion of ownership, allowing them to vote on corporate matters and receive a portion of the profits via dividends.