The Employees of Robert Rogers, CPA, Worked the Last Two

question 79

Multiple Choice

The employees of Robert Rogers, CPA, worked the last two weeks of December. They received their paychecks on January 2. Which of the following accounts should appear on the balance sheet as of December 31 as per the matching principle?

• A)Accounts Payable
• B)Salaries Payable
• C)Salary Expense
• D)Prepaid Expense

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Definitions:

Primary Sector

The sector of an economy focused on the extraction and collection of natural resources, such as agriculture, mining, and forestry.

Secondary Sector

The portion of the economy that includes industries involved in the processing, transforming, and manufacturing of goods from raw materials.

Tertiary Sector

The segment of the economy that provides services to consumers, including retail, health care, and education.

Charlie Chaplin

An iconic British film actor and filmmaker, known for his contributions to the silent film era and his character "The Tramp."