Which of the following statements describes a liability? (a) Amount by which expenses exceed income of a
Question:
Which of the following statements describes a liability?
(a) Amount by which expenses exceed income of a business
(b) Amounts which have to be repaid within the accounting period
(c) Amounts owed
(d) Amounts payable within one year after the end of the accounting period
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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