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What is the formula for current ratio?
current ratio = current asset divided by current liability
Formula for current liability?
Current Liability = sundry creditor+bank overdraft+ expenses payable+provision for tax,divident
What is the difference between total current assets and total current liabilities is?
the difference between total current assets and total liability is the working capital. It goes with a formula 'current asset -current liability =working capital '
Is liability for withholding taxes a current or non current liability?
current liability
Are lease provisions a current liability or non current liability?
Non-current liability, all provisions are non current.
Is Demand loan a current liability or a long term liability?
a current liability
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
Are creditors considered as current liability?
Yes, it is a current liability.
What is the difference between current liability and total liability?
Current Liability: Current liability is a specific liability and it is short term and mostly it is paid within the year. Total Liability: Total liability is the sum of all liabilities like current liabilities, outstanding liabilities etc.
Are billings in excess of cost a current liability or long term liability?
Yes it is a current liability
Is Creditors an asset or liability?
Current Liability
3 When is a liability classified as a current liability ad as a noncurrent liability?
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
