Outstanding salaries for the previous year shall be shown as liability in the current year balance sheet. [RTP Jan. 2025]
Options
A
B
C
D
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Preparation of Final Accounts of Sole ProprietorsQ-5 | Final Accounts of Sole ProprietorsQuestion 4781 of 40
All Questions Correct Answer
✅ Option — Correct Option
All Options:
- A
- B
- C
- D
Detailed Solution & Explanation
False: It shall be disclosed as a current liability in the opening balance sheet.
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