Question

Opening Balance under Sundry Creditors Account normally appears under____________
A. Credit Side
B. Debit Side
C. Liability Side
D. No Opening Balance

Answer 1

Answer:

C. Liability Side

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Explanation:

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Answer 2

Opening Balance under Sundry Creditors Account normally appears under the liability side.

• A Sundry Creditor represents an individual providing various commodities to a company on credit basis.
• The chief creditor does not receive direct payment immediately from the company and is responsible for typically receiving payment from the company in the possible future.  
• In the balance sheet on the liability side, various creditors are seen.