Acme Process Payroll Liabilities

question 70

Multiple Choice

Acme Process Payroll Liabilities
Acme has an automated process for paying the payroll liabilities. On the appropriate date, the accounting system automatically initiates the process payroll liabilities event. Data from the Employee and Payroll Liabilities Account database tables are used in this process. At the completion of this process, the Cash Payments Account and Cash Account database tables are updated and an email is sent to the accountant. The accountant authorizes the payroll liabilities. The Employee, Payroll Liabilities Account, Cash Payments Account, and Cash Account database tables are updated. Payment is sent to the appropriate government entities.
-Who are the agents in the Acme Process Payroll Liabilities narrative?

• A)Employee and Accountant
• B)Schedule, Accountant, and Government Entities
• C)Schedule and Employee
• D)Government Entities and Bank

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Definitions:

Substitutes

Goods or services that can replace each other in use or consumption, where an increase in the price of one leads to an increase in demand for the other.

Nonrival in Consumption

Nonrival in Consumption describes a good where one individual's consumption does not reduce availability to others, such as a public broadcast.

Efficient Price

Price level at which the quantity demanded and supplied in a market are at equilibrium, leading to an optimal distribution of resources.

Common Resources

Resources like air or water that are not owned by anyone, cannot be consumed by one user without reducing available supply for others, and are available to all.