Tryst Inc Has a Policy of Accruing $1,500 for Every Employee

question 56

Multiple Choice

Tryst Inc. has a policy of accruing $1,500 for every employee as a vacation benefit. Sarah, an employee, took a vacation. Which of the following is the correct journal entry for the vacation benefit paid?

---

Definitions:

Examine

To inspect or scrutinize carefully.

Vickrey Auction

A type of sealed-bid auction where the highest bidder wins but pays the price bid by the second-highest bidder.

Common Values

Refers to a situation in auctions or market settings where a particular item has the same value to all bidders or participants.

Profit-Maximizing

An economic principle where a firm's goal is to achieve the highest possible profit given its production costs and market conditions.