Wages – NBC Institute

MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements

Identifies the term related to compensation for employees beyond the regular wage.

Question

Which of the following terms is known as compensation beyond the regular wage?
A. Overtime
B. Incentive
C. Bonus
D. Salaries
E. Leave allowance

Answer

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Tags: Employee Compensation, Incentives, Wages
Level: Level 1

Topic: Accounting for Cost Elements
Series: NOV 2015

MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements

Identify the correct term for calculating gross pay and associated payments.

Question

The computation of the gross pay for each employee and calculation of payments to be made to employees, government and pension funds is called:

A. Wages control accounting
B. Labour cost accounting
C. Payroll accounting
D. Direct labour accounting
E. Overhead control accounting

Answer

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Tags: Labour Costs, Payroll Accounting, Wages
Level: Level 1

Topic: Accounting for Cost Elements
Series: NOV 2021

MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements

Identify the item that is NOT an example of labor costs.

Question

Which of the following is NOT an example of labour costs?

A. Basic wages and salaries
B. Additional payment for overtime working
C. Bonuses
D. Employer Pension Contribution
E. Obsolescence

Answer

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Tags: Labour Costs, Salaries, Wages
Level: Level 1

Series: NOV 2021

FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions

Calculate cash paid for wages and salaries during the period.

Question

What is the cash paid for wages and salaries during the period, given the following information?
Accrued wages and salaries at the beginning of the period: ₦6,500
Accrued wages and salaries at the end of the period: ₦12,500
Wages and salaries reported in the statement of profit or loss: ₦114,000

A. ₦108,000
B. ₦119,000
C. ₦120,000
D. ₦126,000
E. ₦133,000

Answer

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Tags: Cash Transactions, Salaries, Wages
Level: Level 1

Topic: Recording Financial Transactions
Series: NOV 2023

MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements

Identifies the term related to compensation for employees beyond the regular wage.

Question

Which of the following terms is known as compensation beyond the regular wage?
A. Overtime
B. Incentive
C. Bonus
D. Salaries
E. Leave allowance

Answer

Find Related Questions by Tags, levels, etc.

Tags: Employee Compensation, Incentives, Wages
Level: Level 1

Topic: Accounting for Cost Elements
Series: NOV 2015

MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements

Identify the correct term for calculating gross pay and associated payments.

Question

The computation of the gross pay for each employee and calculation of payments to be made to employees, government and pension funds is called:

A. Wages control accounting
B. Labour cost accounting
C. Payroll accounting
D. Direct labour accounting
E. Overhead control accounting

Answer

Find Related Questions by Tags, levels, etc.

Tags: Labour Costs, Payroll Accounting, Wages
Level: Level 1

Topic: Accounting for Cost Elements
Series: NOV 2021

MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements

Identify the item that is NOT an example of labor costs.

Question

Which of the following is NOT an example of labour costs?

A. Basic wages and salaries
B. Additional payment for overtime working
C. Bonuses
D. Employer Pension Contribution
E. Obsolescence

Answer

Find Related Questions by Tags, levels, etc.

Tags: Labour Costs, Salaries, Wages
Level: Level 1

Series: NOV 2021

FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions

Calculate cash paid for wages and salaries during the period.

Question

A. ₦108,000
B. ₦119,000
C. ₦120,000
D. ₦126,000
E. ₦133,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cash Transactions, Salaries, Wages
Level: Level 1

Topic: Recording Financial Transactions
Series: NOV 2023

Question Tag: Wages

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MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements

Identifies the term related to compensation for employees beyond the regular wage.

MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements

Identify the correct term for calculating gross pay and associated payments.

MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements

Identify the item that is NOT an example of labor costs.

FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions

Calculate cash paid for wages and salaries during the period.

MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements

Identifies the term related to compensation for employees beyond the regular wage.

MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements

Identify the correct term for calculating gross pay and associated payments.

MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements

Identify the item that is NOT an example of labor costs.

FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions

Calculate cash paid for wages and salaries during the period.

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MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements

Identifies the term related to compensation for employees beyond the regular wage.

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MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements

Identify the correct term for calculating gross pay and associated payments.

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MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements

Identify the item that is NOT an example of labor costs.

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FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions

Calculate cash paid for wages and salaries during the period.

You're reporting an error for "FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions"

MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements

Identifies the term related to compensation for employees beyond the regular wage.

You're reporting an error for "MI – Nov 2015 – L1 – SA – Q3 – Accounting for Cost Elements"

MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements

Identify the correct term for calculating gross pay and associated payments.

You're reporting an error for "MI – Nov 2021 – L1 – SA – Q10 – Accounting for Cost Elements"

MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements

Identify the item that is NOT an example of labor costs.

You're reporting an error for "MI – Nov 2021 – L1 – SA – Q4 – Accounting for Cost Elements"

FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions

Calculate cash paid for wages and salaries during the period.

You're reporting an error for "FA – Nov 2023 – L1 – SA – Q19 – Recording Financial Transactions"

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