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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
Is outstanding liability is long term?
Outstanding liability can refer to both short-term and long-term obligations, depending on the context. Short-term liabilities are due within a year, while long-term liabilities extend beyond a year. Therefore, whether an outstanding liability is considered long-term depends on its specific terms and the timeframe for repayment.
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.
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
Is outstanding liability is long term?
Outstanding liability can refer to both short-term and long-term obligations, depending on the context. Short-term liabilities are due within a year, while long-term liabilities extend beyond a year. Therefore, whether an outstanding liability is considered long-term depends on its specific terms and the timeframe for repayment.
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 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 difference between a canceled check and a outstanding check?
A canceled check is a check that has been processed by the bank, meaning it has been paid out and deducted from the issuer's account. In contrast, an outstanding check is one that has been written and issued but has not yet cleared the bank, so it still shows as a liability on the issuer's account. Essentially, canceled checks confirm payments made, while outstanding checks indicate pending transactions.
