If Accrued Salaries Were Recorded on December 31 with a Credit

question 107

Multiple Choice

If accrued salaries were recorded on December 31 with a credit to Salaries Payable, the entry to record payment of these wages on January 5 would include:

• A)A debit to Cash and a credit to Salaries Payable.
• B)A debit to Salaries Payable and a credit to Salaries Expense.
• C)A debit to Cash and a credit to Prepaid Salaries.
• D)A debit to Salaries Payable and a credit to Cash.
• E)No entry would be necessary on January 5.

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Definitions:

Government Intervention

Refers to the actions taken by a government to influence or directly regulate various aspects of its economy, social affairs, or public policy.

Workplace Governance

The system by which workplaces are directed and controlled, focusing on the relationship between management, the workforce, and other stakeholders.

Labor Market

The supply and demand dynamics of the workforce, where employers seek to hire labor and workers seek employment, influenced by factors like wages, skills, and economic conditions.

Labor Markets

The supply and demand dynamics of labor, where employers seek to hire workers and workers seek employment, influenced by factors like wages, skills, and economic conditions.