The primary basis for the classification of assets and liabilities in the balance sheet is: Select one: O a. Profitability b. Tangibility c. Liquidity O d. Degree of risk 1. The wages expense account for Gerry Mander, political consultants, showed the following entries for 2011. What was the portion of wages that was treated as an expense in 2010 but was not paid until 2011? Wages Expense Date Particulars Debit Credit Balance bon $ $ $ van 1 Accrued expenses 1200 1200 C Year Various cash payments S1000 49 800 Dr Dec 31 Accrued expenses 2200 52000 Dr Select one: a. 549 800 b. 551 000 C. 51200 d. 52 200