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: –
||Current Liabilities||Fictitious Liabilities
|Long term loans||Creditors||Bills endorsed on behalf of a customer|
|Public Deposits||Bank overdraft|
|Rent received in advance|