Payroll Checks Are Typically Drawn on

question 33

Multiple Choice

Payroll checks are typically drawn on

• A)the regular checking account
• B)a payroll imprest account
• C)a wages payable account
• D)petty cash

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Definitions:

Comprehensive Income

Comprehensive Income includes all changes in equity of a company during a period from transactions and other events, excluding transactions with owners.

Call Option

A financial contract giving the holder the right, but not the obligation, to buy a specified quantity of an asset at a predetermined price within a specified time frame.

Cash Flow Hedge

A financial strategy used to manage risks associated with fluctuations in cash flows by using a hedge instrument to offset potential losses or gains.

Spot Exchange Rates

The present rate at which one currency is traded for another with immediate effect.