Question

What is the advance salary?

a.Asset
b.Liability
c.cost
d.Arrival​

Answer 1

$\textbf{Answer:-}$

(a)Asset

Advance salaries are recorded as assets on a company's balance sheet. As these assets are used, they are expended and recorded on the income statement for the period in which they are incurred

Answer 2

Liability
A present obligation of the entity to transfer an economic resources as a result of past event
It is a claim of outsiders on total assets of the company