Question

Which of the following statements about payroll is correct?

A) Payroll deductions are an expense of the company.

B) When recording the payroll, Salaries and Wages Expense equals the sum of all the deductions.

C) The net pay is debited to Salaries and Wages Expense when the payroll is recorded.

D) Gross earnings are computed by multiplying the time worked by the pay rate promised by the employer.

Answer

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