Employees of Robert Rogers,CPA Worked During the Last Two Weeks

question 85

Multiple Choice

Employees of Robert Rogers,CPA worked during the last two weeks of December.They received their paychecks on January 2.The matching principle would require that which of the following accounts appear on the income statement for the year ended December 31?

• A) Salary expense
• B) Prepaid expense
• C) Salaries payable
• D) Unearned revenue

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Definitions:

Ronald Reagan

The 40th President of the United States (1981–1989), known for his conservative policies, economic reforms, and role in ending the Cold War.

Market Forces

The economic factors affecting the supply and demand for goods and services in the market, including competition, consumer preferences, and regulatory policies.

Reduce Poverty

The goal or process of decreasing the number of individuals or families living below the poverty line through various economic, educational, and policy measures.

Supreme Court

The supreme court in the United States, holding the ultimate authority in reviewing appeals from all federal and state courts when a matter of federal law is at issue.