Outstanding Salaries are shown as:
A) An Expense
B) A Liability
C) An asset
D) none
Correct Answer:
Verified
Q43: M/s Stationery Mart will debit the purchase
Q44: Goods distributed as free samples is debited
Q45: Journal entry for wages paid Rs. 5,000
Q46: Interest of Drawings is:
A)Expenditure for the business
B)Expense
Q47: Drawings account is the nature of
A)Personal Account
B)Real
Q49: Income tax paid by a sole proprietor
Q50: The Income created but not yet received
Q51: The income earned but not yet received:
A)Accrued
Q52: The closing stock in adjustment is shown
Q53: The opening stock is shown in:
A)Trading Account
B)Profit
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