Two Advisors to the President Have Given Their Policy Recommendations

question 131

Multiple Choice

Two advisors to the president have given their policy recommendations, and they are in disagreement.Why do these economists disagree?

• A)because they do not have all relevant information about the problem 
• B)because they disagree on the nature of some cause-effect relationship 
• C)because they have different values and opinions 
• D)All of the above are reasons for disagreements among economists.

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Definitions:

Salaries Expense

Salaries expense refers to the total amount paid to employees for services rendered during a specific accounting period, often reported on the income statement.

Salaries Payable

An account that records owed but unpaid wages to employees, regarded as a current liability on the balance sheet.

Prepaid Salaries

Expenses paid in advance for salaries, which are recorded as an asset on the balance sheet until they are actually incurred.

Salaries

Regular payments made to employees for performing their jobs, typically expressed as an annual amount but paid in smaller increments such as monthly or bi-weekly.