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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

Workers’ compensation insurance premiums are based on which of the following?

  1. a. Job risk
  2. b. Percentage of payroll
  3. c. Job classification
  4. d. Company’s claim history
  5. e. All of the above

To determine

Identify the option that helps in ascertaining the worker’s compensation insurance premium.

Explanation

Payroll:

Payroll refers to the total amount that is required to be paid by the company to its employees during a week, month or other period. It is the financial record of the wages and bonus, net pay, salary and deductions of a company’s employees.

Workers compensation insurance premium are usually paid in advance based on their estimated payroll during the period...

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