Question

Lyra needs a new car urgently. She can sell her old car but will still need additional money from whatever she saves. Because she doesn’t have a regular source of income, she is not really aware of how much she earns or spends every month. Which procedure will help her find out about her earnings and expenditure?

A. seek help from a finance expert
B. try and look for a source of income that’s more regular
C. maintain and refer to income and expense statements
D. get her paychecks verified by a finance expert

Answer 1

Answer:C

Explanation: Plato

Answer 2

Liyra should "maintain and refer to income and expense statements" , it will help her find out about her earnings and expenditure.

Step-by-step explanation:

Salaries and Wages as Expenses on Income Statement

The salaries and wages of non-production workers (e.g. sales and general management) are part of the expenditures reported on the company's statement of revenue. The expenses are not included. Under the accrual accounting method, the sums are recorded during the time of accounting for the wages and salaries of the workers.

According to the accrual accounting method, the Salaries Expense account records the wages paid by workers over the duration specified in the income statement section, whether or not the organization has yet been paying the employees.