A business with several employees on the payroll should maintain as a feature of good cash control a special:
a. payroll checking account.
b. employee savings account.
c. account for all special deposits.
d. employee loan program.
e. none of the above.
a
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Indicate whether the statement is true or false
At the end of the fiscal year, the usual adjusting entry for accrued salaries owed to employees was omitted. Which of the following statements is true?
A) Salary Expense for the year was understated. B) The total of the liabilities at the end of the year was overstated. C) Net income for the year was understated. D) Owner's equity at the end of the year was understated.
Purchasing power parity is a way to compare
A. meals in different economic systems, via the Big Mac Index. B. the purchasing power of several currencies. C. the impact of financial aid in several economies. D. tastes in several different cultures.
Courts of equity will grant specific performance of contracts for personal services
a. True b. False Indicate whether the statement is true or false