Total payroll for a given week is $12,000 . If 70 percent of the company's employees typically qualify to receive two weeks' paid vacation per year, assuming 50 working weeks, the entry to record the estimated liability for vacation pay for the week is:

a. Estimated Liability for Vacation Pay 840
Cash 840

b. Vacation Pay Expense 480
Cash 480

c. Vacation Pay Expense 336
Estimated Liability for Vacation Pay 336

d. Cash 168
Estimated Liability for Vacation Pay 168

C

Business

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Business

Which of the following is a lifestyle symptom associated with revenue-related fraud?

a. Too little cash is collected relative to reported revenues. b. Weaknesses in the cutoff processes or other key accounting processes. c. Untrue responses by management to queries about revenue-related accounts. d. Executives' personal net worth tied up in company stock.

Business