Current liabilities, Accounting Standards

Current Liabilities

We have studied about liabilities are claims of outsiders against the business. Conversely, these are amounts owed through the business to people who have lent money or provided goods or services on credit. If these liabilities are unpaid within an accounting period or the operating cycle of the business, they are categorized as current liabilities. Several of such liabilities are incurred in the acquisition of materials or services forming part of the current assets. As was the case along with current assets and liabilities are also listed in the sequence of their relative liquidity.

Posted Date: 4/3/2013 6:37:14 AM | Location : United States







Related Discussions:- Current liabilities, Assignment Help, Ask Question on Current liabilities, Get Answer, Expert's Help, Current liabilities Discussions

Write discussion on Current liabilities
Your posts are moderated
Related Questions
a.Compute the number of preferred shares that were issued during 20X6, which is Preferred stock, $100 par value, 10% $580,000 $500,000

Question : (a) One of the characteristics of an agent is "proactiveness". Briefly explain the effect of this characteristic. (b) Give an example of a purely reactive syste

You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by che


2. Now assume that you have been asked how to account for the destroyed drilling operation in the Gulf of Mexico in terms of the destroyed rig and lost natural resources. For the p

Q. Types of business activities? An accounting education is perfect for providing this versatile background. Additionally to providing a good foundation for entrepreneurship in

i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is

QUESTION An important function of Environmental Accounting is to bring environmental costs to the attention of corporate stakeholders who may be motivated to identify ways of r

QUESTION The recognition of human capital by modern businesses has led to the development of Human Resource Accounting (HRA) Required- (a) Explain the following terms-

Trading account is ready to ascertain the Gross Profit and Loss of a firm; here Gross Profit is the excess of total revenue over cost of goods sold as the credit side of the tradin