Which of the Following Lists of Current Liabilities Has Only

question 1

Multiple Choice

Which of the following lists of current liabilities has only current liabilities included?

• A) Trade payables, accruals, debentures, bank overdraft, shares
• B) Debenture, accruals, money in the bank, trade payables
• C) Accruals, trade payables, money in the bank
• D) Bank overdraft, trade payables, hire purchase debt and accruals

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Definitions:

Liabilities

Financial obligations or debts owed by a person or company to others.

Taxation Principle

The guidelines governing how taxes should be levied on individuals and businesses in a fair and efficient manner.

Tax Revenue

The income that is gained by governments through taxation from individuals and businesses.

Economic Income

The total value of all income generated by the assets of an individual or organization, including both realized and unrealized gains.