Which of the Following Accounts Is Debited When Employees Take

question 170

Multiple Choice

Which of the following accounts is debited when employees take paid vacation?

• A)Vacation Benefits Expense
• B)Vacation Benefits Payable
• C)Salaries Expense
• D)No entry is needed.

Grasp the principles and limitations of the payback method in project assessment.

Recognize the assumptions underlying the internal rate of return and net present value methods regarding reinvestment rates.

Understand the role of discounted cash flow techniques in evaluating the recovery of initial investment.

Identify how profitability indexes are used to evaluate investment projects and their relation to the internal rate of return.

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Definitions:

VMI

Vendor Managed Inventory, a business model in which the supplier of goods, rather than the retailer, is responsible for managing and replenishing inventory.

Walmart And P&G

Two major corporations, Walmart, a retail giant, and Procter & Gamble (P&G), a multinational consumer goods company, known for their strategic partnerships and business relations.

JIT

Just-In-Time, a manufacturing methodology aimed at reducing flow times within production as well as response times from suppliers and to customers.

Vertical Integration

A strategy where a company expands its business operations into different steps on the same production path, such as a manufacturer owning its supplier and/or distributor.