Salaries in arrears is treated in the balance sheet as a<...
Salaries in arrears is treated in the balance sheet as a
Current asset
Current liability
Fixed asset
Long term liability
Correct answer is B
Current Liability: salaries in arrears fall into the category of them under the current liability because it is benefit due to outsiders but still enjoying by the organisation and can't exceed a year
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.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7 800.............