Use the following information to answer the giv... - WAEC Accounting 2012 Question
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
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.
Please share this, thanks:
Add your answer
No responses