Which of the Following Statements Regarding Vacation Benefits Is Correct

question 53

Multiple Choice

Which of the following statements regarding vacation benefits is correct?

• A) No entry is needed until the employee takes a paid vacation.
• B) The account, Vacation Expense is debited when the employee takes a paid vacation.
• C) Health and pension benefits are recorded in the same manner as vacation benefits.
• D) When an employee takes a paid vacation, the account, Vacation Benefits Payable is credited.

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Definitions:

Capability

The ability, skill, or expertise that an organization or individual has which enables them to achieve their objectives and perform effectively.

Strength

In the context of SWOT analysis, refers to the inherent advantages or positive attributes an organization possesses which can be leveraged to achieve its goals.

SWOT Analysis

A tool used in strategic planning that assesses the Strengths, Weaknesses, Opportunities, and Threats associated with a project or enterprise.

Strategic Planning

Involves outlining an organization's vision, goals, and tactics to achieve long-term success and competitive advantage.