Use This Information to Answer the Following Question

question 79

Multiple Choice

Use this information to answer the following question. The following totals for the month of November were taken from the payroll register of Levine Company:
The entry to record the payment of net payroll would include a

• A) debit to Salaries Payable for $12,000.
• B) debit to Salaries Payable for $7,950.
• C) debit to Salaries Payable for $8,500.
• D) credit to Cash for $9,050.

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Definitions:

Historical Materialism

A Marxist framework that examines social and economic development through the lens of material conditions and class struggle, positing that economic base shapes societal superstructure.

Economic Production

The process of creating goods and services through the combination of labor, land, and capital.

Superstructure

In Marxist theory, the cultural, ideological, and institutional structures built upon the economic base (infrastructure) of a society.

Capitalist Accumulation

The process by which capitalists generate wealth and expand their capital through reinvestment of profits.