What is outstanding salary liability or assets?
Posted by: Abhi on 06.05.2022
It is liability. as we r still liable to pay for it
Outstanding means liability still alive, so salary is payable. Hence its liability.
Liability, as it is still to be paid
Outstanding salary is a liability because as per financial rule, normally all asset are debit balance and all liabilities are credit balance. Outstanding salary is a credit balance.
It's a liability, as it is yet to be paid. The expence ( Salary ) is standing outside, waiting for payement.
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