Question on: WAEC Accounting - 2012
Use the following information to answer the given question
\(\begin{array} {c|c} & D \ \hline \text{Cash in hand}& 1,440\ \text{Cash at bank} & 2440\ \text{Stock} & 2,500\ \text{Furniture and fittings} & 2,200 \ \text{Creditors} & 1,000\end{array}\)
The liability is
A
D7,580
B
D6,580
C
D5,380
D
D1,000
Ask EduPadi AI for a detailed answer
Correct Option: D
A liability is an obligation arising from a past business event. They are obligations owed to outsiders by a business
Creditor; is a person or company to whom money is owed.
From the table above, liabilities is 1,000.
Add your answer
Please share this, thanks!
No responses