Chp 1 - Payroll Accounting Flashcards by Kayla Solomon | Brainscape

Q

True or false, salary and wage accruals are rounded to the nearest whole dollar?

A

True

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Q

In what order do you record withholdings when completing a journal entry?

A

CPP
EI
Income taxes
Union dues
RPP/RSP
Charitable donations

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Q

True or false, vacation pay is accrued to the nearest whole dollar?

A

False

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