Regarding Gross and Net Pay,which of the Following Statements Is

question 84

Multiple Choice

Regarding gross and net pay,which of the following statements is correct?

• A) Gross pay minus all deductions such as income tax withheld equals net pay.
• B) Net pay represents the total salaries and wages expense to the employer.
• C) For most businesses, gross pay equals net pay.
• D) Employers are required to deposit net pay into the employee's bank account.

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Definitions:

Buildings

Structures such as offices, warehouses, and factories owned by a company for the purpose of conducting business operations.

Chart Of Accounts

A systematic list of all account titles and numbers used by a business to organize its financial transactions and prepare financial statements.

Alphabetize

The act of arranging words or other textual elements in order according to the sequence of the letters in the alphabet.

Financial Statements

Documents offering a summary of a corporation's financial status, encompassing the balance sheet, income statement, and statement of cash flows.