Question

Classify the following items into Assets and Liabilities :

(i) Machinery
(ii) Debtors
(iii) Building
(iv) Bank overdraft
(v) Loan from A. Bhattacherjee
(vi) Salary owing to staff
(vii) stock of goods​

Answer 1

Answer:

1. asset

2. revenue

3. asset

4. liabilities

5. liability

6. asset

7. asset

I hope it's helpful to you ☺️

Answer 2

Answer:

1 Assest

2 Assest

3 Assest

4 Liabilities

5 Liabilities

6 Liabilities

7 Assest