Calculating Employees' Pay, Federal Taxes, and Other Payroll Deductions Is

question 40

True/False

Calculating employees' pay, federal taxes, and other payroll deductions is a business example of a computerized processing activity.

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Definitions:

Worksheet

A document used by accountants to gather information for adjusting entries and to prepare financial statements.

Asset Expires

Refers to the expiration or depletion of the useful life or service period of an asset, at which point it may no longer be productive or useful for the business.

Revenue

Revenue is the total amount of money that a company receives from its activities, mainly from sales of products or services, before any expenses are subtracted.

Original Cost

The purchase price of an asset or service, including installation fees, transportation charges, and any other expenses necessary to make the asset operational.