Expenses Sometimes Make Their Contribution to Revenue in a Different

question 178

Multiple Choice

Expenses sometimes make their contribution to revenue in a different period than when they are paid. When wages are incurred in one period and paid in the next period, this often leads to which account appearing on the statement of financial position at the end of the time period?

• A) Due from Employees.
• B) Due to Employer.
• C) Salaries and Wages Payable.
• D) Salaries and Wages Expense.

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Definitions:

Percussion Instruments

Musical instruments that produce sound through being struck, shaken, or scraped, such as drums, cymbals, or maracas.

Level of Self-Sufficiency

The degree to which an individual, community, or nation can meet its own needs without external assistance.

Independent

Independent signifies being free from external control or influence, capable of thinking or acting for oneself.

Completely Dependent

A state in which an individual or entity relies entirely on another source or party for support, sustenance, or aid.