What Type of an Account Is Wages and Salaries Payable

question 31

Multiple Choice

What type of an account is Wages and Salaries Payable?

• A) Asset
• B) Liability
• C) Contra-liability
• D) Expense

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Definitions:

Natural Rights

Rights that are considered inherent and universal to all human beings regardless of legal systems or government recognition, typically including life, liberty, and property.

First Continental Congress

A meeting of delegates from twelve of the Thirteen Colonies in 1774, convened in Philadelphia to address issues with British governance, laying groundwork for the American Revolution.

Raised an Army

The act of recruiting, training, and organizing a military force for the purposes of defense or combat in a conflict or war.

Demoralized

Refers to a state in which an individual or group feels a loss of courage, confidence, or morale.