During the First Year of Operations, Employees Earned Vacation Pay

question 153

True/False

During the first year of operations, employees earned vacation pay of $35,000. The vacations will be taken during the second year. The vacation pay expense should be recorded in the second year as the vacations are taken by the employees.

---

Definitions:

Serum

The clear yellowish fluid that remains from blood plasma after clotting factors have been removed.

White Blood Cells

Cells of the immune system involved in protecting the body against both infectious disease and foreign invaders.

Distressful Symptoms

Unpleasant physical or psychological signs that cause discomfort or suffering to an individual.

Constipation

A condition where an individual experiences difficulty in passing stools or has infrequent bowel movements.