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The amount of liability which is yet to be paid as on the balance sheet date is known as outstanding liability
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∙ 15y ago
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Outstanding expenses under which group?
outstanding expences is an current liability
Is rent expense a liability?
rent is an expense while outstanding rent is a 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.
Is common shares considered as a current liability?
Outstanding stock is an "owner's equity" account. It's on the same side of the accounting equation as liabilities, but it is not a liability.
Meaning of outstanding expenses?
what is outsand expenses
Outstanding expenses under which group?
outstanding expences is an current liability
Why is outstanding expense is credited in outstanding expense account?
Because it is a liability for business
Is rent expense a liability?
rent is an expense while outstanding rent is a liability
Where to pass outstanding salaries in balance sheet?
on liability side of
What is liability economics?
what is meaning of liability in accounting
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.
Is common shares considered as a current liability?
Outstanding stock is an "owner's equity" account. It's on the same side of the accounting equation as liabilities, but it is not a liability.
What is a word meaning legally responsible?
Legal Liability. Liability.
Meaning of outstanding expenses?
what is outsand expenses
What is the legal meaning for absolute liability?
The legal meaning for 'absolute liability' is that one could be found guilty of a crime even if it was not intentional. Regulatory offences are considered to be strict liability offences.
What is journal entry of outstanding expenses?
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
What is the meaning of outstanding wages?
wages unpaid or owed
