How the following liabilities are to be shown on the liability side of the balance sheet...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How the following liabilities are to be shown on the liability side of the balance sheet in the order of permanence ? 1. Current liabilities and provisions 2. Secured loans 3. Share capital 4. Unsecured loans 5. Reserves and surplus A B C D 3, 5, 2, 4, 1 3,2,1,4,5 1,4,2,5,3 5, 4, 3, 2, 1 How the following liabilities are to be shown on the liability side of the balance sheet in the order of permanence ? 1. Current liabilities and provisions 2. Secured loans 3. Share capital 4. Unsecured loans 5. Reserves and surplus A B C D 3, 5, 2, 4, 1 3,2,1,4,5 1,4,2,5,3 5, 4, 3, 2, 1
Expert Answer:
Answer rating: 100% (QA)
Correct option is A Order of permanence is where assets or liabi... View the full answer
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Posted Date:
Students also viewed these accounting questions
-
The minutes of the board of directors of the Meeting of March 5, 2011 The meeting of the board of directors of Tetonic Metals was called to order by the James Cook, chairman of the board, at 8:30 am....
-
The board of directors of Portand Ltd are considering two mutually exclusive investments each of which is expected to have a life of five years. The company does not have the physical capacity to...
-
The minutes of the board of directors of the Tetonic Metals Company for the year ended December 31, 2016, were provided to you. Meeting of March 5, 2016 The meeting of the board of directors of...
-
Describe what is meant by the term balanced in the term balanced scorecard method.
-
Consider the M/G/1 model. (a) Compare the expected waiting time in the queue if the servicetime distribution is (i) exponential, (ii) constant, (iii) Erlang with the amount of variation (i.e., the...
-
A steel shaft of diameter \(2.5 \mathrm{~cm}\) and length \(1 \mathrm{~m}\) is supported at the two ends in bearings. It carries a turbine disc, of mass \(20 \mathrm{~kg}\) and eccentricity \(0.005...
-
Why is involvement of top management important to the success of a corporate environmental management and accounting system?
-
Preston Media Corporation had the following income statement and balance sheet for 2018: Requirements 1. Compute the acquisition of plant assets for Preston Media Corporation during 2018. The...
-
Under what conditions would you as an analyst choose to exclude some of the comparable firms from your sample?
-
Lannion and Co. is engaged in providing and marketing a standard advice service. Summarised results for the past two months reveal the following: There were no price changes of any description during...
-
Robin Limited(Robin)purchased a piece of equipment and it was fully operational as at 1 February 2019. The equipment was purchased for $320,000. In addition to the purchase price, Robinspent $40,000...
-
You invest $2500 into an investment account and are told that your deposit will double every 30 years. determine a formula for your balance, B(t), t years after your deposit.
-
I have to find a link to a current event that is related to the visual arts. I have to explain. I have to discuss what the news article means to me, why I choose the article and why the topic is...
-
A child on a sled is initially at rest on an icy horizontal surface. The sled is pushed until it reaches a final velocity of 6.65 m/s in a distance of 16.8 m. The coefficient of friction between the...
-
Walgreens 8/31/2020 quick ratio of 31.85% vs. CVS 12/31/2019 quick ratio of 61.51% financial analysis: Calculate the quick ratio for Walgreens and CVS. What do these results mean in the context of...
-
Krypton Bank has set a concentration limit of 0.35 (i.e, 35 percent of capital) for the lT sector. The bank has amaximum loss it permits to affect its total capital in the event of default of 5%....
-
9. Eastland's currency is called the eastmark, and Westland's currency is called the westmark. In the market in which eastmarks and westmarks are traded for each other, the supply of and demand for...
-
You are the newly appointed tax practitioner to complete Emilys tax return and have downloaded the prefill report for Emilys tax return (hint, you can read what a prefill report is here (Links to an...
-
Gale Gordon, CPA, has found ratio and trend analysis relatively useless as a tool in conducting audits. For several engagements, he computed the industry ratios included in publications by Standard...
-
Grande Stores is a large discount catalog department store chain. The company has recently expanded from 6 to 43 stores by borrowing from several large financial institutions and from a public...
-
Questions 1 through 8 are typically found in questionnaires used by auditors to obtain an understanding of internal control in the acquisition and payment cycle. In using the questionnaire for a...
-
Derive Equation 3.9, \(x(t)=C e^{-\zeta \omega_{n} t} \cos \left(\omega_{d} t-\phi ight)\).
-
(a) The response of an oscillator with mass \(m=1\) kg is shown in Figure 3.51. What can you say about the properties of the oscillator and the response? Determine the equation of motion and the...
-
Solve Equation 3.6, \(\ddot{x}+2 \zeta \omega_{n} \dot{x}+\omega_{n}^{2} x=0\) for \(\zeta>1\).\
Study smarter with the SolutionInn App