Both Letters and Memos

question 82

Multiple Choice

Both letters and memos:

• A) are used primarily to send formal messages to people outside of an organization.
• B) provide a written document for the receiver to review.
• C) can only be sent electronically.
• D) can only be used for lateral communication.

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Definitions:

Gross Pay

The total amount earned by an employee before any deductions, such as taxes and social security, are applied.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Hourly Wage Rate

The amount of money paid to an employee for every hour worked, typically applied to part-time or contract workers.

Gross Pay

The total amount earned by an employee before any deductions or taxes are taken out.