Which of the following accounts is not an Asset?

Debtors

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Salary payable to employees

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Bank Balance

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Car held for business use

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Solution

The correct option is B
Salary payable to employees

Out of all of the above, only salary payable to employees is not an Asset. All the other are the assets of the business.

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Similar questions

(i) Bank Balance;	(ii) Investments (Long-term);	(iii) Outstanding Salary;
(iv) Authorised Capital;	(v) Bills Payable;
(vi) Unclaimed Dividents;	(vii) Shares Option Outstanding Account;
(viii) General Reserve; and	(ix) Subsidy Reserve?

If salary paid to employee is entered in the personal account of employee, will this error be revealed by the Trial Balance?

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