The Wages Payable Account Showed an Opening Balance of $27

question 27

Multiple Choice

The wages payable account showed an opening balance of $27 000 and a closing balance of $42 000. Wages expense was $590 000. What was the cash payment for wages?

• A) $575 000
• B) $605 000
• C) $632 000
• D) None of the above

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Definitions:

Marx

A reference to Karl Marx, a 19th-century philosopher, economist, and revolutionary socialist whose works greatly influence the study of society and economics.

Dimensions Of Stratification

Various ways in which societies categorize people based on their socioeconomic status, including wealth, power, and prestige.

Weber

Max Weber was a German sociologist, economist, and political scientist known for his theory on the relationship between economics, culture, and religion, particularly the role of Protestantism in the development of capitalism.

Political Status

The position or rank of an individual or group in a political context, which may affect their power, rights, and duties in a society or organization.