Employees Have Worked for the Full Year and Have Received

question 24

Multiple Choice

Employees have worked for the full year and have received total wages of $305,000 in cash. However, they must wait until the next payday to be paid for the last three days of the year they have worked. The amount owing is $6,500. Wages expense in the statement of financial performance and accrued wages in the statement of financial position are respectively:

• A)$311,500 and $6,500.
• B)$306,000 and $5,500.
• C)$306,000 and $0.
• D)$311,500 and $0.

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Definitions:

Learning Perspective

A theoretical viewpoint that emphasizes the role of experience and learning in shaping behavior.

Sociocultural Perspective

An approach in psychology that examines how social and cultural factors influence human behavior and mental processes.

Psychodynamic Perspective

A psychological approach that emphasizes unconscious psychological processes and contends that childhood experiences are crucial in shaping adult personality.

Behaviorist

A behaviorist is a psychologist who focuses on observable behaviors and the ways in which learning and environment influence behavior, often excluding internal processes like thoughts and emotions.