The File for Recording Each Payroll Transaction for Each Employee

question 18

Multiple Choice

The file for recording each payroll transaction for each employee and maintaining total employee wages paid for the year to date is the

• A)payroll master file.
• B)payroll transaction file.
• C)payroll journal.
• D)job time ticket.

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Definitions:

Strip Bonds

Fixed-income securities that are derived from separating the principal and interest payments of a bond, which are then sold as individual zero-coupon bonds.

RRSP

The Registered Retirement Savings Plan is a financial tool for Canadian workers and self-employed persons, facilitating savings and investments for retirement.

Yield

The return in terms of income from an investment, like dividends or interest earned by possessing a specific security.

Compound-interest

Interest computed on both the original sum invested or loaned, as well as on the interest that has been added to this principal amount over earlier periods.