CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Outstanding salary account is a _______ account.

A
Nominal account
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Real account
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Artificial person's account
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Representative personal account
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution

The correct option is D Representative personal account
Outstanding expense are those expense which are due but not paid and to be added with the respective expenses head and shown as liability in the balance sheet.
Any amount which is due to a person against which the services are already provided for is an outstanding expense. These are personal account but put together clubbed and considered as representative person account.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Financial Statements of NPO
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon