Diemans Corp

question 62

Multiple Choice

Diemans Corp.has provided a part of its budget for the second quarter:
-

• A)$50,000
• B)$40,200
• C)$39,600
• D)$51,800

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Definitions:

Salaries Expense

Salaries expense represents the total amount paid to employees for services rendered during a specific period, including wages, bonuses, and other compensation.

Prepaid Insurance

An asset account that represents insurance payments made in advance, which are expensed as the insurance coverage period lapses.

Transaction Chronologically

Recording of transactions in the order of their occurrence over time.

Accounts

Financial records that track all transactions related to a specific item, such as revenues, expenses, assets, liabilities, or equity.