If a Company Has No Salaries and Wages Payable on Its

question 222

Multiple Choice

If a company has no Salaries and Wages Payable on its balance sheet,then one may conclude that:

• A) there are salaries and wages to be paid in next period.
• B) no salaries and wages were paid in the current period.
• C) Salaries and Wages Expense was greater than the cash paid for wages during the period.
• D) the salaries and wages were paid in advance.

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Definitions:

Egalitarian Skills

Abilities or practices that promote equality and equal opportunities within groups or societies.

Self-Managed Teams

Groups of employees tasked with planning and executing their own work without traditional managerial supervision.

Vertical Organizational Structure

An organizational model where hierarchy and direct lines of authority from top management down to lower level employees are emphasized.

Managerial Function

The roles and activities undertaken by managers to plan, organize, lead, and control to achieve business objectives.