Which of the Following Describes the Class of Transactions Associated

question 55

Multiple Choice

Which of the following describes the class of transactions associated with payroll?

• A)posting costs of purchasing inventory
• B)payment of employee services
• C)payment of withholding taxes and benefits
• D)writing off damaged inventory dropped by employees

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Definitions:

Electrolyte

A chemical compound that, when melted or dissolved in water or another solvent, dissociates into ions and becomes capable of conducting electricity.

Rectification

The process of converting alternating current (AC) to direct current (DC) using diodes or other rectifying devices.

Direct Current

Electrical current that flows only from zero to positive and does not alternate negative and positive as AC does; the type of current created by the use of a battery.

Alternating Current

The form in which electrical current is generated at power stations and transmitted along power lines to customers. Alternating current is created by causing electrons to flow in an alternating positive and negative manner.