If a Control Total Were to Be Computed on Each

question 91

Multiple Choice

If a control total were to be computed on each of the following data items, which would best be identified as a hash total for a payroll IT application?

• A)Gross wages earned
• B)Employee numbers
• C)Total hours worked
• D)Total debit amounts and total credit amounts

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Definitions:

Net Income

The sum a company retains as earnings after deducting taxes and expenses from its total revenue.

Profit Margin Ratio

A financial metric that measures the extent to which a company or business activity makes money, expressed as a percentage of revenue.

Net Income

The company's earnings post all deductions for expenses and taxes from its income.

Net Sales

The total revenue from sales after subtracting returns, allowances for damaged or missing goods, and discounts.