Which of the Following Activities and QuickBooks Window Used to Record

question 1

Multiple Choice

Which of the following activities and QuickBooks window used to record it is incorrect?

• A)Enter time worked; Weekly Timesheet
• B)Pay payroll liabilities; Write Check
• C)Enter employee information; Employee List
• D)Pay payroll taxes; Pay Liabilities

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Definitions:

Contribution Format

A type of income statement that separates fixed and variable costs to highlight the contribution margin.

Unit Contribution Margin

The amount that each unit sold contributes towards covering fixed costs and generating profit, calculated as the selling price per unit minus variable costs per unit.

Break-even Point

The level of sales or production at which total revenues equal total expenses, resulting in neither profit nor loss.

Variable Expenses

Costs that vary directly with the level of output or activity, such as materials and labor.