Actual Costing Helps Managers Get Information Earlier and Take Corrective

question 60

True/False

Actual costing helps managers get information earlier and take corrective measures to improve labor efficiency.

---

Definitions:

Payroll Register

A document or ledger containing details of employees' pay, deductions, and net pay for a specific pay period.

Current Liabilities

Financial duties that must be settled within a year or the standard operational period of the company, classified as short-term.

Payroll Bank Account

A dedicated bank account used exclusively for processing payroll and related transactions, ensuring accurate tracking of wages and taxes.

Times Interest Earned

A financial ratio that measures a company's ability to meet its debt obligations based on its current income, indicating financial health and stability.