At the end of the ﬁnancial period, the payroll accountant records the ________ of the employee's pay that is earned but not yet paid; in the next ﬁnancial period, this entry is ________.

Question

Quizplus · Accepted Answer

The term used to describe the recording of the employee's pay that is earned but not yet paid is "accrual." The entry is then reversed in the next financial period. Therefore, the correct choice is A) Accrual; reversed.

At the End of the ﬁNancial Period, the Payroll Accountant