Multiple Choice Questions on liabilities in balance sheet include the following items ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

liabilities in balance sheet include the following items ........

Accountancy (Phase -I & II) Company Final Accounts
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    liabilities in balance sheet include the following items 

    Long term loan

    Incorrect Answer

    Short term loan

    Incorrect Answer

    Owner’s fund

    Incorrect Answer

    All of these

    Correct Answer
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    Explanation:

    Balance sheet has two sides i.e. assets and liabilities. Liabilities may includes the following items:

    • Capital /Owner's fund  
    • Reserves & Surpluses
    • Loans & Advances (Long Term Loans and Short Term Loans)
    • Outstanding Expenses
    • Current Liabilities

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