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The main reason that prices are going up is because we import lots of things from places like China and the value of our currency is gradually reducing relative to the Chinese currency. This is because we (and other Western countries) arent selling enough to the rest of the world to pay for what we import - instead we are both borrowing and printing money.
Also, there is a world shortage of food because the population is increasing and various problems around the world (e.g. wars and environmental effects) have reduced production.
Salaries are going down largely because Western countries are not sufficiently competitive in the global market. e.g. if you want somebody to write a computer program 20 years ago you would have needed to pay them a good salary, now you can go on to a website and get somebody from a poor country to do it for practically nothing. There are many few barriers to international competition so people generally dont get paid more than the global market dictates any longer.
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∙ 11y ago
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A man and his dog were going down the street the man rode yet walked what was the dogs name?
yet
Why salaries payable is a liability?
Salaries payable is liability because it is incurred but not yet paid and payment is deferred till future time .
A man and a dog were going down the street the man rode yet walked what was the dog name?
Yet! :D
A man and a dog were going down the streetthe man rode yet walkedwhat is the name of the dog?
the doggys name is yet :-)
Is accrued salaries payable a liability account?
Yes, accrued salaries are those amount which is due but not yet paid and payment is deferred for future time.
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I'm glad you are sitting down, and there in fact is
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