The Disadvantage of Using Pay Grade Approach Is That It

question 81

True/False

The disadvantage of using pay grade approach is that it increases the administrative burden of setting separate rates of pay for hundreds of different jobs.

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Definitions:

Adjusting Journal Entries

Entries made in the general journal at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Prepared

The state of being made ready in advance for a specific purpose or event.

Adjusted Trial Balance

A compilation of all accounts along with their adjusted balances, employed for the creation of financial reports.

Adjusting Entries

Journal entries made at the end of an accounting period to update the accounts and ensure that the reported financial statements are accurate and complete.