Question No 04 Chapter No 1 – USHA Publication 11 Class

Question No 04 Chapter No 1

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

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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)

Chapter No. 18 – Financial Statements – (With Adjustments)

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