Acme Process Payroll Liabilities

question 81

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.
-What are the names of the datastores in the Acme Process Payroll Liabilities narrative?

• A)Employee, Payroll Liabilities Account, and Cash Payment
• B)Cash Payment, Cash Account, and Schedule
• C)Payroll Liabilities Account, Accounts Payable, and Employee
• D)Cash Account, Employee, and Payroll Expense

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Definitions:

Exact Interest

Interest calculation method utilizing the actual number of days in the interest period and a 365-day year to determine the accurate interest due.

Simple Interest

Interest calculated solely on the principal amount of a loan or investment, without compounding over time.

360-Day Year

This is a simplified method used in some financial calculations where the year is assumed to have 360 days for ease of interest computation.

Total Amount

The complete sum or quantity of something, encompassing all components or elements.