As the Prepaid Workers' Compensation Is Recognized, the Amount Will

question 25

Multiple Choice

As the Prepaid Workers' Compensation is recognized, the amount will transfer to:

• A) Workers' Compensation Insurance Payable.
• B) Workers' Compensation Insurance Expense.
• C) Wages and Salaries Expense.
• D) Payroll Tax Expense.

---

Definitions:

Chattel

Personal property that is movable, as opposed to real estate or land.

Chose in Action

A personal right to something not in the holder's possession but recoverable through legal action.

Garnisheeing Order

A garnisheeing order is a legal directive to a third party, typically a bank, to seize or withhold money belonging to a debtor for the purpose of satisfying a judgment against the debtor.

General Security Agreement

A document that provides a lender a security interest in a range of assets of the borrower, serving as collateral for securing loan repayments.