What Term Describes the Process of Adjusting Survey Results to Account

question 16

Multiple Choice

What term describes the process of adjusting survey results to account for the dated nature of compensation surveys,while at the same time,taking into consideration potential market increases in the following year?

• A) benchmarking the data
• B) aging the data
• C) data alignment
• D) pay trending

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds; interest payments made on debts.

Account Balance

The amount of money in an account, calculated by adding all debits and subtracting all credits.

Financial Statement

A written record that conveys the business activities and the financial performance of a company; main statements include balance sheet, income statement, and cash flow statement.

Temporary/Permanent

Refers to accounts within accounting practices; temporary accounts are reset each accounting period, while permanent accounts carry their ending balance into the next period.