Which One of the Following Adjustments Increases Net Income for the Period

question 37

Multiple Choice

Which one of the following adjustments increases net income for the period?

• A)Recognition of the amount of supplies used
• B)Recognition of interest on a note receivable
• C)Recognition of wages earned,but not paid to employees
• D)Recognition of rent costs that had been paid to the landlord in advance

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Definitions:

Labor Unions

Entities that act on behalf of employees in discussions with employers about salaries, work environment, and perks.

Labor Supply

The total hours of work that workers are willing and able to provide at a given wage rate.

Demand for Labor

The total amount of workers that employers want to hire at a given wage rate, in a given time period.

Union Membership

Involvement in an organized association of workers formed to protect and further their rights and interests in the workplace.