The Entry Made in November to Reverse the Entry That

question 40

Multiple Choice

The entry made in November to reverse the entry that was made to accrue October payroll would be:

• A)Debit - Wages PayableCredit - Cash
• B)Debit - Wages PayableCredit - Payroll
• C)Debit - Factory OverheadCredit - Payroll
• D)Debit - PayrollCredit - Wages Payable

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Definitions:

Capital Budgeting

The evaluation of investment projects in terms of their potential to increase shareholder value through strategic long-term asset allocation.

Incremental Sales

Incremental sales refer to the additional sales revenue gained from a particular sales activity or decision, beyond what would have been achieved otherwise.

Operating Expenses

Costs associated with the day-to-day operations of a business that are not directly tied to the production of goods or services.

Income Tax Rate

The proportion of a person's or organization's income that is owed to the government in taxes.