Use This Information to Answer the Following Question

question 139

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 amount of liabilities relating to payroll, other than Salaries Payable, is

• A) $4,178.
• B) $3,748.
• C) $3,628.
• D) $4,298.

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Definitions:

Monthly Disburses

This refers to the amount of money a company pays out on a monthly basis, covering expenses such as salaries, utilities, and rent.

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Daily Interest Rate

The interest rate expressed as a daily percentage, indicating the amount of interest charged or earned each day.

Collection Float

The time delay between when a check is deposited and when the funds become available in the account.