Examlex
Which of the following is not an assertion related to the classes of transactions underlying the payroll cycle?
Carrying Values
The amount at which an asset is recognized on the balance sheet after deducting any accumulated depreciation and impairment charges.
Deferred Tax Account
An account on a company’s balance sheet that is a provision for income taxes that have been accrued but are not yet due.
Unrealized Profits
Profits that have been earned but not yet realized through a transaction, such as an increase in value of an investment that has not been sold yet.
Inventory
the totality of goods and materials held by a company for the purpose of resale, manufacturing, or repair.
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