When Many Specifications Are Required, They Are Included on a Separate

question 12

True/False

When many specifications are required, they are included on a separate sheet and referenced to the drawing.

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Definitions:

Salaries Expense

The total amount of salary payments owed to employees for work performed during a specific period.

Salaries Payable

An account that records amounts owed to employees for work performed but not yet paid, a liability on the balance sheet.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made at the end of the previous accounting period.

Accounting Period

A specific time period for which financial information is reported, typically a year, quarter, or month.