Suppose a Management Team Assigns 100 Points to the Job

question 28

Multiple Choice

Suppose a management team assigns 100 points to the job of clerk/typist and 75 points to a job on the loading dock.If the wage paid to a clerk/typist is $8.00 per hour,then the hourly wage paid to a worker on the loading dock would be:

• A)$2
• B)$6
• C)$8
• D)$10

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Definitions:

Purchased On Account

Transactions where goods or services are bought on credit, with payment to be made at a later date.

Accounts Receivable

Amounts due to a firm from its clients for goods or services delivered but not yet compensated for.

Subsidiary Ledgers

Detailed records that contain information about specific accounts, supporting the totals recorded in the general ledger.

General Ledger

The master set of accounts that summarize all transactions occurring within an entity, providing a complete record of financial transactions over the life of the company.