Question:
Outstanding salary is
Outstanding salary is
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Personal Accounts include debtors and creditors; always check the nature of the transaction.
Updated On: Nov 12, 2025
- Real Account
- Nominal Account
- Personal Account
- None of these
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The Correct Option is C
Solution and Explanation
Step 1:
Outstanding salary represents an amount owed to employees, which is a liability.
Step 2:
In accounting, liabilities are classified under Personal Accounts, as they relate to persons or entities to whom money is owed.
Step 3:
Therefore, the correct classification is (C) Personal Account.
Outstanding salary represents an amount owed to employees, which is a liability.
Step 2:
In accounting, liabilities are classified under Personal Accounts, as they relate to persons or entities to whom money is owed.
Step 3:
Therefore, the correct classification is (C) Personal Account.
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