Question

Is loan and outstanding expses a outside liability ?

Answer 1

Explanation:

Types of a Liability

Examples – trade creditors, bills payable, outstanding expenses, bank overdraft etc. ... Non-current Liabilities – Also termed as fixed liabilities they are long-term obligations and the business is not liable to pay these within 12 months. Examples – long-term loans, bonds payable, debentures, etc.

Answer 2

Examples – trade creditors, bills payable, outstanding expenses, bank overdraft etc. ... Non-current Liabilities – Also termed as fixed liabilities they are long-term obligations and the business is not liable to pay these within 12 months. Examples – long-term loans, bonds payable, debentures, etc.