Accounting Dictionary
Salary
A salary is a fixed amount of money that is paid to an employee every pay period.
Ronald earns $5000 a month as a manager. There was a mistake in the financial statements and Ronald had to work an additional 10 hours on Saturday to find the error. Ronald will still get $5000 because he earns a salary and is not paid by the hour. $5000 is his salary.
https://accounting.uworld.com/cpa-review/lc/accounting-dictionary/term/salary/
Sign Up to Learn More!
Join our mailing list today to get notified of new discount offers, course updates, Roger CPA Review news, and more!