Twelve New Accounts Have Recently Been Added to Your Area

question 27

Multiple Choice

Twelve new accounts have recently been added to your area of responsibility.Four of the accounts are local and the remaining eight are international.You plan to meet with five of the new accounts this week.How many different groups of five could you form that would include exactly two local and three international accounts?

• A)422
• B)336
• C)648
• D)524
• E)980

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Definitions:

Salaries Payable

A current liability account that records the amounts owed to employees for services rendered but not yet paid.

Salaries Expense

The expense reported on the income statement representing the total amount paid to employees for services rendered during a specific period.

Payroll Register

A record that summarizes wages, deductions, and net pay for all employees for each pay period.

Payroll Taxes

Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.