A Nonexempt, Salaried Worker Who Received $46,500 in Annual Compensation

question 14

Multiple Choice

A nonexempt, salaried worker who received $46,500 in annual compensation for a 40-hour standard workweek has an hourly rate of ________. (Round to nearest cent)

• A) $23.26
• B) $22.86
• C) $22.64
• D) $22.36

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Definitions:

Investing Activities

Transactions and events related to the acquisition or disposal of long-term assets and investments not included in cash equivalents.

Accounts Payable

Liabilities of a business that represent amounts due to suppliers or creditors for goods and services received but not yet paid for.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.

Accrued Liabilities

Financial obligations that a company has incurred during a period but has not yet paid for, appearing on the balance sheet.