Question No 04 Chapter No 1
4. From the following, identify the type of liabilities :
Long term loans; Creditors; Bills payable; Bank overdraft; Bonds; Bills endorsed on behalf of the Customer; Public deposits; Salary Due; Rent received in advance.
The solution of Question No 04 Chapter No 1: –
Statement showing the type of Liabilities:
| Fixed Liabilities |
Current Liabilities | Fictitious Liabilities |
| Long term loans | Creditors | Bills endorsed on behalf of a customer |
| Bonds | Bills payable | |
| Public Deposits | Bank overdraft | |
| Salary due | ||
| Rent received in advance | ||
To understand more about Introduction to accounting please check out following links: –
Financial Accounting – Introduction and its Functions
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of all Chapters: –
Advertisement-X
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Advertisement-X
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)