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JAMB Accounts Principles of Accounts 2017 Paper
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Question : 18
Total: 49
Salaries in arrears is treated in the balance sheet as a
current asset
current liability
fixed asset
long term liability
Validate
Solution:
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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