Accrued salaries is a:
A) contra asset account.
B) equity account.
C) asset account.
D) liability account.

Name: Accrued salaries is a: A) contra asset account. B) equity account. C) asset account. D) liability account.
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Question

Quizplus · Accepted Answer

Accrued salaries are wages and salaries that have been earned by employees but have not yet been paid. This means that the company has a legal obligation to pay the amount owed to employees, making it a liability account.

Accrued Salaries Is A