The Salaries Payable Account Is A(n)________

question 143

Multiple Choice

The Salaries Payable account is a(n) ________.

• A) liability account with a normal debit balance
• B) asset account with a normal debit balance
• C) liability account with a normal credit balance
• D) asset account with a normal credit balance

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Definitions:

Monetary Outflow

This term refers to the flow of money out of a country, business, or institution, primarily through payments to other countries or purchases of goods and services.

Comparative Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower opportunity cost than competitors, leading to more efficient trade patterns.

Manufactures Textiles

The process of creating fabrics or cloth from various types of fibers and raw materials.

Absolute Advantage

A condition in which a country, individual, or company can produce a specific good at a lower cost in terms of labor and resources than competitors.