If a fiRm Accrues the Payroll Due but Not Paid

question 60

Multiple Choice

If a firm accrues the payroll due but not paid at the end of a financial period, what should it do on the first day of the next financial period?

• A)It should create a reminder about the accrual to ensure accuracy of computations on the next pay date.
• B)It should make a note to create the reversing entry at the end of the next financial period.
• C)It should disburse the accrued pay to the employees.
• D)It should create a reversing entry in the General Journal.

Acknowledge the paradoxes and criticisms of the concept of freedom during the Revolution.

Evaluate the role of slavery and public debate surrounding it during the Revolutionary period.

Distinguish between different forms of servitude and their status post-Revolution.

Understand and explain the key principles of republicanism and their application in the structuring of state governments after the American Revolution.

---

Definitions:

Breach of Warranty

The failure to fulfill the terms of a promise or assurance, typically related to the quality or condition of a sold product or service.

Material Defects

Significant problems in a property or product that affect its value, functionality, or safety, which are typically undisclosed to a buyer.

Specific Performance

A judicial remedy requiring a party to fulfill their obligations under a contract, typically used when monetary damages are insufficient.

Reasonable Market Value

An estimate of the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.