Question

Identify the odd one and state the reason

(a) Wages outstanding (b) Wages (c) Creditors (d) Bills payable​

Answer 1

Answer:

WAGES

Explanation:

,OTHERS ARE SHOWN ON THE LIABILITY SIDE OF BALANCE SHEET

Answer 2

ANSWER :

★ (b) Wages

• ➻ Among the items given, i.e., Wages Outstanding, Wages, Creditors and Bills Payable; the odd item is Wages.

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REASON :

$\: \: \: \: \: \: \:$ ⊚ The given items are Wages Outstanding, Wages, Creditors  and Bills Payable.

Here,

• ✠ Wages Outstanding is an item of Liability.

• ✠ Wages is an item of Expense. 

• ✠ Creditors is an item of Liability.

• ✠ Bills Payable is an item of Liability.  

➺ As Wages Outstanding, Creditors and Bills Payable are the items of Liability; but Wages is the item of Expenses. Therefore, "Wages" is the odd one among the given items.

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KNOW MORE :

❒ Expense :-

• ✎ Expense refers to the cost incurred by a firm for the purpose of producing and selling the goods or providing services. It is the cost of use of things as well as services in order to generating revenue from it. Expense can be either Direct Expenses or Indirect Expenses

❒ Liability :-

• ✎ Liability refers to the amount which a firm is required to pay in future. It is the future monetary obligation of the firm. Liability can be either Current Liability or Non-current Liability.