Trade Creditors
Accrued expenses
Prov. for annual leave
Prov. for taxation
Income in advance
materials
NO, it is not a liability it is a con-tra account
current liability
no
Any liability the company reasonably expects to have paid in full in one year or less (or one accounting period) is a current liability.
materials
NO, it is not a liability it is a con-tra account
current liability
no
Any liability the company reasonably expects to have paid in full in one year or less (or one accounting period) is a current liability.
Any liability the company reasonably expects to have paid in full in one year or less (or one accounting period) is a current liability.
a paper in current assets in liability
FALSE!
Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps. No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps.
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.