For Owner's Capital,the Category of Account and Its Normal Balance

question 152

Multiple Choice

For Owner's Capital,the category of account and its normal balance is ________.

• A)equity and a credit balance
• B)assets and a debit balance
• C)equity and a debit balance
• D)assets and a credit balance

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Definitions:

Standard Hour Plan

An incentive plan that pays workers extra for work done in less than a preset "standard time."

Merit Pay

A pay system where employees are compensated based on their performance, as determined through evaluations, with the aim of rewarding high performance.

Individual Performance

The measure of the level to which an employee accomplishes work tasks effectively and efficiently, contributing to the organization's objectives.

Differential Piecework Rate

A compensation system where employees are paid based on the amount of work they produce, but the rate of pay increases after a certain quantity of work is completed.