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Standard XII
Accountancy
Analysing Statement of Profit and Loss
Outstanding s...
Question

Outstanding salary is shown as:


A

Accumulated Other Comprehensive Income

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B

Significant Accounting Policies

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C

Commitments And Contingencies

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D

None of these

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Solution

The correct option is B

Significant Accounting Policies


Outstanding salary is shown as both a liability and by adjusting it in the Statement of Profit and Loss


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