Which of the following statements are TRUE about the Conventional Payback Period Analysis method? Note: This is a multiple answer question, please select all of the following that you think are true. OThis method can provide more than one payback period OThis method neglects all net cash flows after the payback period is reached. O This method should only be used to initially screen a project to determine if the project warrants further consideration. O This method does not consider the time value of money.

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Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.