Multiple Choice Questions on Which of the following items is shown under the head lsquo Current Liabilities rsquo while preparing........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Which of the following items is shown under the head lsquo Current Liabilities rsquo while preparing...........

General Accounting Principles Company Final Accounts
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    Which of the following items is shown under the head ‘Current Liabilities’ while preparing the Balance Sheet of a company?

    Securities Premium Reserve

    Incorrect Answer

    Debentures

    Incorrect Answer

    Livestock

    Incorrect Answer

    None of these

    Correct Answer
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    Explanation:

    Examples of Current Liabilities

    • Accounts payable
    • Short-term debt  such as bank loans or commercial paper issued to fund operations
    • Dividends payable
    • Notes payable—the principal portion of outstanding debt
    • Current portion of deferred revenue . such as prepayments by customers for work not completed or earned yet
    • Current maturities of long-term debt
    • Interest payable on outstanding debts, including long-term obligations
    • Income taxes owed within the next year

    By: Subhash Singh
    ProfileResources

    Let's Discuss

    Bijoy Krishna

    what would be the answer then

    0 0 reply

    NIHARIKA WALIA

    trade payables- creditors, bills payable, outstanding expenses etc

     0 0 reply
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