Liabilities are generally classified on astatement of financial position asa. present liabilities and future liabilitiesb. tangible liabilities and intangibleliabilitiescurrent liabilities and non-currentliabilitiesO d. small liabilities and large liabilities Which account balance will change betweenthe adjusted trial balance and the post-closingtrial balance?O a. Retained Earningsb. Accumulated Depreciationc. Interest Payabled. Share Capital-Ordinary

Liability means the amount which is to be paid to an outsider by business. It is the present…

Liabilities are generally classified on a statement of financial position as a. present liabilities and future liabilities O b. tangible liabilities and intangible liabilities current liabilities and non-current liabilities d. small liabilities and large liabilities

Liabilities are generally classified on a statement of financial position as a. present liabilities and future liabilities O b. tangible liabilities and intangible liabilities current liabilities and non-current liabilities d. small liabilities and large liabilities

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Liabilities are generally classified on a
statement of financial position as
a. present liabilities and future liabilities
b. tangible liabilities and intangible
liabilities
current liabilities and non-current
liabilities
O d. small liabilities and large liabilities

Which account balance will change between
the adjusted trial balance and the post-closing
trial balance?
O a. Retained Earnings
b. Accumulated Depreciation
c. Interest Payable
d. Share Capital-Ordinary

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