GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Under the head ‘current liabilities’, the following items are disclosed in the Final Accounts of a company
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Acceptance or Bills Payable
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Sundry creditors
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Outstanding expenses and Advance Incomes
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All of the above
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Explanation:
Detailed explanation-1: -Current liabilities are the sum of Notes Payable, Accounts Payable, Short-Term Loans, Accrued Expenses, Unearned Revenue, Current Portion of Long-Term Debts, Other Short-Term Debts.
Detailed explanation-2: -Redeemable debentures are not current liabilities.
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