During 2014,the First Year of Operations,Silver,Inc

question 43

Multiple Choice

During 2014,the first year of operations,Silver,Inc. ,pays salaries of $175,000.At the end of the year,employees have earned salaries of $20,000,which are not paid by Silver until early in 2015.What is the amount of the deduction for salary expense?

• A)If Silver uses the cash method,$175,000 in 2014 and $0 in 2015.
• B)If Silver uses the cash method,$0 in 2014 and $195,000 in 2015.
• C)If Silver uses the accrual method,$175,000 in 2014 and $20,000 in 2015.
• D)If Silver uses the accrual method,$195,000 in 2014 and $0 in 2015.
• E)None of the above is correct.

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Definitions:

Negative Self-talk

The practice of speaking to oneself in a critical or pessimistic manner, which can impact one's self-esteem and mental health.

Membership/Seniority-based Rewards

Compensation and benefits that are granted based on the length of service and membership status within an organization rather than performance.

Job Performance

Involves the evaluation of an employee's effectiveness in fulfilling their job responsibilities and tasks.

Skill-based Pay Plans

Compensation systems that pay employees based on the range, depth, or complexity of their skills and knowledge, rather than their job title or position.