After sending the monthly payroll remittance, CPP Payable would decrease.

Name: After sending the monthly payroll remittance, CPP Payable would decrease.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

CPP Payable represents the amount of Canada Pension Plan contributions that a company owes to the government based on the salaries and wages paid to their employees. When the monthly payroll remittance is sent, it means that the company has made the payment for the CPP contributions, which is why the CPP Payable account would decrease.

After Sending the Monthly Payroll Remittance, CPP Payable Would Decrease