If a Firm Accrues the Payroll Due but Not Paid

question 44

Multiple Choice

If a firm accrues the payroll due but not paid at the end of a financial period,what should it do on the first day of the next financial period?

• A)It should create a reversing entry in the General Journal.
• B)It should disburse the accrued pay to the employees.
• C)It should create a reminder about the accrual to ensure accuracy of computations on the next pay date.
• D)It should make a note to create the reversing entry at the end of the next financial period.

Identify and explain the medical and cultural reasons behind circumcision.

Comprehend the role of hormones, specifically testosterone, in male puberty and sexual function.

Identify the functions and contributions of various male sex organs to the reproductive process.

Understand the conditions affecting ejaculation and their implications on fertility and sexual health.

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Definitions:

Mortgage Pass-Through Securities

Investment products that pool mortgage loans and pass the principal and interest payments from borrowers to investors periodically.

Mortgage Portfolio

A collection of mortgage loans held by a financial institution or investor.

Credit Swap

A financial derivative contract allowing two parties to exchange streams of interest payments or commodity flows for a set period, based on a predetermined notional principal amount.

Mortgage-Backed Securities

These are bonds secured by home and other real estate loans. They are created by pooling mortgages and then selling interests in that pool to investors.