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What is meant by Salaries Outstanding Accounts?
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Answer Posted / a.r. kalpana
Salaries Outstanding accounts are a personal a\c.
If a business is not able to pay salary for the last two
months to all the workers or some of them the workers will
be treated as the creditors of the business(since they have
given the services but in exchange they have not been paid
for). The amount due to these employees will be added and
put under one common title "Salaries Outstanding account".
Thus the salary outstanding account is a personnal account
representing the employees.
| Is This Answer Correct ? | 128 Yes | 15 No |
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