The Procedure for a Payroll Accrual Requires Identifying the Portion

question 99

Multiple Choice

The procedure for a payroll accrual requires identifying the portion of the payroll that falls after the payday but within the accounting period, and:

• A)paying employees that amount.
• B)recording the amount as an unusual cost.
• C)providing for both the expense and the liability for the unpaid payroll with an accrual entry when the books a closed.
• D)preparing a supporting note on the financial statement as to the amount of the unpaid payroll.

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