Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

At the time of dissolution of a firm, unpaid salary due to employees is treated as what?

Answer and explanation

Correct answer: Liability

Salary that is due to employees but has not yet been paid is an external liability of the firm. On dissolution, such a liability is transferred to the Realisation Account, and the Realisation Account is debited when it is paid. It is neither an asset, profit nor capital. Exam tip: unpaid salary is a liability, whereas salary paid in advance is treated as an asset.

Related tags

Partnership DissolutionRealisation AccountUnpaid SalaryLiabilitiesAccountancy Class 12Dissolution Of A Partnership FirmAccountancyClass 12 Mcq

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.