If Salary Expense Has an Ending Balance of $48,000 and Salary

question 107

True/False

If salary expense has an ending balance of $48,000 and salary payable shows a decrease of $500,then the cash payment for salaries for the period was $47,500.

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Definitions:

Temperature

A measure of the average kinetic energy of the particles in a system, expressed in units such as Celsius (°C), Fahrenheit (°F), or Kelvin (K).

Scarcity

The basic economic issue arises from unlimited human desires facing limited resources on Earth.

Economic Wants

Describes the desires for goods and services that can improve quality of life but require resources to obtain.

Available Resources

The total amount of physical, human, and capital resources that are accessible for use in production or consumption.