Answer: <em>Option (D) is correct.</em>
From the given options, the following is least feasible to be taken in consideration as a substantive practice relating to payroll: <em>Test whether employee time reports are approved by supervisors.</em>
<em>Payroll commonly is a term that is referred to as the cumulative sum of money that an organization pays to an individual. It can also be stated as organization's records of individual's salaries, bonuses, and taxes. </em>
<em>Therefore it'll be futile to take in consideration "whether employee time reports are approved by supervisors", as a substantive procedure relating to payroll.</em>
Summer break, easy lessons, and fun kids and activities
Answer:
July 24 Cash $1470 Dr
Discount allowed $30 Dr
Account Receivable $1500 Cr
Explanation:
The receipt of payment for accounts due will cause a credit to accounts receivable for that particular debtor along with a debit to cash as payment is received. However, as there were some sales returns, the outstanding amount in the accounts receivble account was sales less sales returns that is 3100 - 1600 = 1500.
The terms state 2/10, n/30 which means 2% cash discount is allowed if payment is made within 10 days of sale. The payment is made within 10 days, as July 24 falls under this period so cash received will be 1500 * 98% = 1470.
While Accounts recevables will be reduced by 1500. The difference of 30 is discount allowed and it is an expense and will be debitted.
Answer:
D. allow both the premium and benefit payout to vary with investment returns
Explanation:
Variable universal life insurance policies allow both the premium and benefit payout to vary with investment returns. In the variable universal life insurance policy it is flexible and gives insured with the option to invest as well as alter the insurance coverage with ease.
Policyholder has the option to decide the amount and the frequency of premium payment in a specific limits.
