What Type of an Account Is Wages and Salaries Payable

question 71

Multiple Choice

What type of an account is Wages and Salaries Payable?

• A) Asset
• B) Liability
• C) Revenue
• D) Expense

Recognize the importance of personal development strategies within professional settings.

Distinct the concepts of reward power from coercive power and their respective impacts on organizational effectiveness.

Realize the implications of authority, specifically referent power and its scope in the workplace.

Understand the concept and application of standard costs and budgets in managerial accounting.

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Definitions:

Gas Combustion Engines

Engines that generate mechanical energy by burning a fuel gas, such as gasoline, in a combustion process.

Complex Compound

refers to a chemical compound formed from the bonding of one central atom or ion to several surrounding atoms, ions, or molecules.

Building Block

is a fundamental component or element used as a base for constructing something more complex, such as molecules for life or materials for construction.

Monosaccharides

The simplest form of carbohydrates, consisting of single sugar molecules like glucose and fructose, which are essential energy sources.