What is outstanding salary liability or assets?
Posted by: Abhi on 06.05.2022
Ask a QuestionOutstanding means liability still alive, so salary is payable. Hence its liability.
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.
Get 5 credit points for each correct answer. The best one gets 25 in all.
Post an enquiry and get instant responses from qualified and experienced tutors.
Post Requirement