Question

The Closing Balance of a Creditor will be
transferred to
a.Profit & Loss Account
b.Balance Sheet
c.Cash Flow Statement
d.Trading Account​

Answer 1

Answer:

Hello there!

Explanation:

since creditor is a liability for us because we have an obligation to pay him for the goods/stocks we have bought.

so, it ll be transferred to LIABILITY side of BALANCE SHEET.

SO, option B) balance sheet is correct.

Answer 2

Answer:

Option b. Balance sheet is the correct alternative.

Explanation:

Liabilities are generated when we have creditors in our business. Liabilities are an integral part of the balance sheet and it shows the repayment capacity of a business.