Examlex

Solved

Which of the Following Would NOT Be Classified as a Liability

question 10

Multiple Choice

Which of the following would NOT be classified as a liability on the statement of financial position?


Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered or used but not yet paid for.

Current Liabilities

Financial obligations a company owes and is due to pay within a year.

Total Current Assets

The sum of all assets expected to be converted into cash within one year.

Accounts Receivable

Money owed to a company by its debtors for goods and services that have been delivered but not yet paid for.

Related Questions