Which Is the Only One Class of Transaction Relating to the Payroll

question 33

Multiple Choice

Which is the only one class of transaction relating to the payroll cycle?

• A)receiving of goods
• B)obtaining of service
• C)receipt of cash
• D)sales

---

Definitions:

Purchased Patent

An asset representing the right to exclusively use, make, sell, or distribute an invention or discovery, acquired through purchase rather than original creation.

Legal Life

The duration for which an asset is legally permitted to be used or the period a legal agreement is effective.

Amortized

The process of gradually reducing a debt through periodic payments of principal and interest over a set term.

Ordinary Repairs

Expenditures for routine maintenance and upkeep of assets, charged as expenses to ensure the operational efficiency of an asset.