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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Compensation for skilled or unskilled labor expressed in terms of hours, weeks, or units is called salary.

To determine

Indicate whether the given statement is true or false.

Explanation

When compensation is provided to the skilled and unskilled employees it is termed as Wages. Mostly wages are expressed in terms of hours, weeks, or units produced and only when compensation is made to the managerial or administrative services it will be considered as salary...

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