Salaries in arrears is treated in the balance sheet as a

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Accounts - Principles of Accounts JAMB 2017

Salaries in arrears is treated in the balance sheet as a

  • current asset
  • current liability checkmark
  • fixed asset
  • long term liability

The correct answer is: B

Explanation

Current Liability: salaries in arrears fall into the category of them under the current liability because it is benefit due to outsiders but still enjoying by the organisation and can't exceed a year
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