In an Accounting Practice, Wages Paid to Audit Clerks Are

question 77

Multiple Choice

In an accounting practice, wages paid to audit clerks are classified as:

• A) customer support costs.
• B) direct labour costs.
• C) support services costs.
• D) indirect costs.

---

Definitions:

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenues.

Next Period

Refers to the subsequent accounting period or time frame following the current one.

Retail Method

An inventory estimation technique used in retail, which calculates the ending inventory balance using the cost-to-retail price ratio.

Estimated Inventory

An approximate calculation of a company's inventory, used when an exact count is not feasible and typically utilized in a periodic inventory system.