Accountancy, asked by muhammadriaz, 10 months ago

What do you know about verification of liabilities? Explain the verification of long term and current liabilities.

Answers

Answered by Anonymous

Explanation:

Liabilities are legal obligations of the organization to third parties. It is in the form of Capital, Debentures, Long term loans, payment to suppliers against goods and expenses, contingent liabilities etc. Verification of liabilities is as important as verification of assets.

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