WebExamples of current assets include accounts receivable and prepaid expenses. Fixed assets, or non-current assets, are tangible assets with a life span of at least one year and usually longer. Fixed assets might include machinery ... (asset) with a $25,000 loan (liability) and $5,000 in cash (equity), we've acquired an asset of $30,000, ... WebMCQs Chapter 1 Introduction to Accounting have been prepared by our team of best accountancy teachers. (a) Personal Account. (b) Real Account. (c) Nominal Account. (d) None of these. Question. Current Liabilities include: (a) record all business transactions. (b) interpret financial data.

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WebOutstanding Expense. In the world of business, payments are not necessarily paid or received when due. An Outstanding Expense is an expense which is due but has not been … WebThe outstanding expense is represented on the liability side of the balance sheet of a business. How do expenses increase liabilities? When expenses are accrued, this means … dark brushed nickel exterior door handle

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WebThe following journal entry can be passed in case of outstanding expenses. Expense A/c Dr. To Outstanding Expense A/c. (For recording the expense of the current year outstanding) … WebA limited liability company: "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, and limitations on ownership transfer", i.e., L.L.C. LLC structure has been called "hybrid" in that it "combines the characteristics of a corporation and of a partnership or sole proprietorship". WebDec 15, 2011 · Study now. See answer (1) Best Answer. Copy. Outstanding expenses are the expenses which have fallen due at the end of the accounting period but which has not been paid. Its a liability for the ... dark buddha rising recensies