Small Corporation Uses a Wages Clearing Account for Its Payroll

question 39

Multiple Choice

Small Corporation uses a Wages Clearing Account for its payroll disbursements.At the end of February,a reasonably large debit balance remained in this account.What is the most likely reason?

• A)More labour cost had been assigned to the expense accounts than had been paid.
• B)Some labour cost had not been properly classified in the expense accounts.
• C)Some employees had not yet cashed their cheques.
• D)Not enough cash had been transferred to the bank account.

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