An Adjustment to Accrue the Amount of Salaries and Wages

question 154

Multiple Choice

An adjustment to accrue the amount of salaries and wages owed was recorded on December 31.These salaries and wages were paid on the following January 5.The entry on January 5 would include a debit to:

• A)Salaries and Wages Expense and Credit to Cash.
• B)Salaries and Wages Payable and Credit to Cash.
• C)Cash and Credit to Salaries and Wages Payable.
• D)Cash and Credit to Salaries and Wages Expense.

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Definitions:

Fallacy

An error in reasoning that renders an argument invalid or leads to an incorrect conclusion.

Argument's Premises

The foundational statements or propositions upon which an argument is based and from which conclusions are drawn.

Gambler's Fallacy

The erroneous belief that if something occurs more frequently than normal during a given period, it will happen less frequently in the future, or vice versa.

Legal Standards

Accepted principles that guide behavior and proceedings within legal cases.