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Question Practice

If a business owes $1,000 in salaries at year end, how should this be recorded?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

If a business owes $1,000 in s...

Single Answer MCQ
Q-00053571

If a business owes $1,000 in salaries at year end, how should this be recorded?

1

Credit Salaries Payable $1,000

2

Debit Salaries Expense $1,000

3

Credit Cash $1,000

4

Debit Outstanding Salaries $1,000

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