Salary and Wages: Salary and Wages is an nominal account. It increases the expenses of the company. Salary and wages is that amount which is paid by the employer to their employees. It is a kind of remuneration which is payable by the employer in consideration of their service. To identify: The amount of salary and wages which is paid.

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Chapter 12, Problem 4MCQ

To determine

Salary and Wages:

Salary and Wages is an nominal account. It increases the expenses of the company. Salary and wages is that amount which is paid by the employer to their employees. It is a kind of remuneration which is payable by the employer in consideration of their service.

To identify: The amount of salary and wages which is paid.

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