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The correct way to account for salaries and wages is to: All of the given answers are correct. Recognise salaries and wages and the associated
The correct way to account for salaries and wages is to: All of the given answers are correct. Recognise salaries and wages and the associated on-costs as an asset where they are a direct cost of producing inventory. Treat salaries and wages and the associated on-costs as an expense in the year in which they are incurred. Discount to present value any wages and salaries that are payable more than 12 months after year end
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