Study Set Content:
These are obligations resulting from past
transactions/activities and whose settlement
will cause an outflow from the resources of
the business. These are debts owing to
creditors for assets or services acquired in
the past with the promise to pay at some
future time.
Liabilities
Click To Flip the Card
are usually identified
with the word Payable.
Liabilities
Click To Flip the Card
These are debts or obligations that have an
expected payment due within the regular
operating cycle of a single year.
Current Liabilities
Click To Flip the Card
These are obligations or debts to creditors
that are not evidenced by a written promise
to pay.
Accounts Payable
Click To Flip the Card
thumb_up_alt
0 Subscribers
layers
264
Items
folder
Development
Category
0.00
0 Reviews
Share It Now!
Premium Sets You May Like!
More from Development:
Personal Development
4 ITEMS
Discover More:
ORG CHEM LAB FINALS
157 ITEMS
QC chapter 2
369 ITEMS
