Question

Which of the following is NOT one of the four (4) main elements to payroll that...

Which of the following is NOT one of the four (4) main elements to payroll that we discussed?

FICA Taxes

Bonuses

Payroll expenses

Compensated Absences

Which of the following is true about determinable liabilities reported on the balance sheet?

They are always estimable.

They are always classified as current.

They are sometimes possible instead of probable.

They are sometimes immaterial to decision makers.
Business   Accounting   
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Homework Answers

Answer #1

Answer :-

- Payroll Expense

Is not one of the four (4) main element to payroll.

Explanation :-  Because payroll expense is a business expenses associated with paying employees such as a wages and salary.

- They are always classified as current.

Is true about determinable Liabilities reported on the balance sheet.

Explanation :- Determinable Liabilities are obligation that can be measured exactly. Example are account payable, note payable, dividend payable, taxes, accured liabilities, unearned revenue.

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