cpt problem of april 25 09

Hi adula,

I feel u can put your question more clearly.

Yes. Salary outstanding for the FY will be debited to P&L as salary paid for the current year.

Ur question is not clear

Dear Adula

In my Opinion, Salary outstanding and salary of current year both will be debited under salary exps. in P & L A/c . Here the basic difference is that salary for the current year will be treated as exps whereas salary outstanding will be treated as salary payable under current liabilities.

ya i did not ask question properly

 cos i thought some on will answer who wrote cpt exam ...sorry

can a company buy its own debunters?

yes a company can buy its own debentures as investment and can cancel them subsequently.