A Payment to an Employee in Settlement of Salaries Payable

question 46

True/False

A payment to an employee in settlement of salaries payable decreases an asset and decreases a liability.

---

Definitions:

Assignment Notice

A formal notification that an assignment, often of a contract or legal right, has been made to another party.

Expressly Prohibits

Explicitly forbids certain actions or uses, often found within contractual or legal language to remove ambiguity.

Payment of Money

The act of transferring money from one party to another as a form of exchange for goods, services, or to settle debts.

Notice

A formal communication informing a party of an action, decision, or legal requirement that impacts them.