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Examveda

Salaries paid in advance should be shown on

A. Asset side of the Balance sheet

B. Liability side of the Balance sheet

C. Credit side of the Trading account

D. All of the above

Answer: Option A

Solution(By Examveda Team)

Salaries paid in advance should be shown on Asset side of the Balance sheet. An advance paid is recorded as a current asset in the company's balance sheet.

This Question Belongs to Commerce >> Accounting

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