Which of the following statements regarding vacation benefits is correct?
A) No entry is needed until the employee takes a paid vacation.
B) The account, Vacation Expense is debited when the employee takes a paid vacation.
C) Health and pension benefits are recorded in the same manner as vacation benefits.
D) When an employee takes a paid vacation, the account, Vacation Benefits Payable is credited.
C) Health and pension benefits are recorded in the same manner as vacation benefits.
You might also like to view...
Your new sales manager, who previously worked for Boston Consulting Group, directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: What is the sales manager asking the sales reps to do?
What will be an ideal response?
The iceberg principle suggests that
A. most competitors' strategies are not obvious on the surface. B. small customers usually have the most hidden profit potential. C. no matter what control procedure is used, most major problems are impossible to detect until it is too late. D. conclusions based on summary information are often misleading. E. None of these answers is correct.
Which president led the way in creating programs to improve the working and social conditions in the United States in the 1930s?
A. Theodore Roosevelt B. Calvin Coolidge C. Franklin Roosevelt D. Woodrow Wilson E. Herbert Hoover
During the product life cycle, when do sales begin to slow down even though profit levels are high?
A) Decline B) Maturity C) Introduction D) Growth E) Promotion