……………. are liabilities which become due and payable within a short period.

Related MCQs

• Which financial statement represents the a ccounting equation as – Assets = Liabilities + Owner’s equity?
• Which financial statement represents the accounting equation “assets = liabilities + owners’ equity”
• Del Credere Commission in consignment business is generally payable on
• Accounts payable normally has ……………………….. balnce.
• From the following details ascertain the adjusted bank balance as per Cash Book – overdraft as per Cash Book 1,60,000; cheque received entered twice in the Cash Book 10,000; credit side of bank column cash short by 1,000; bank charges amounting to 400 entered twice:
• Assets acquired for short term use in the business are called……………..
• Profit and loss account is prepared for a period of one year by following the concept of
• The determination of expenses for an accounting period is based on the concept of 3
• …………………………….. principle requires that the same method should be used from one accounting period to the next .
• Amount set apart to meet loss due to bad debt is a