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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Definitions:

Transformational Practices

Innovative actions and strategies implemented by organizations to fundamentally change their operations, culture, or market position for long-term success.

HR Functions

The comprehensive set of roles and responsibilities performed by the human resources department, including recruiting, training, employee relations, and compensation management.

Transactional Work

Tasks or jobs that involve routine and repetitive activities, often characterized by clear procedures and guidelines.

Strategic HRM

Involves designing and implementing a set of internally consistent policies and practices that ensure an organization's human capital contributes to the achievement of its business objectives.