Question

salaries and wages payable by firm as on the date of dissolution is treated

Answer 1

Maybe this is correct answer of your question.

Answer 2

Answer:

Salaries and wages payable by firm as on the date of dissolution is treated as  preferential creditors

Explanation:

Preferential creditors:

• A preferential creditor is a creditor who has a priority claim to payment in the event of the debtor's bankruptcy under applicable insolvency legislation.
• Most legal systems priorities some creditors over ordinary creditors, either for the entire amount of their claims or up to a specific amount.

Salaries and wages:

• Salaries and wages are considered expenses incurred as a result of human capital engaged by the firm for the purposes of the company's operation.
• As a result, salaries and wages are regarded as fixed operating expenses incurred by the corporation on a regular basis. These expenses are often paid on a monthly basis.

#SPJ3