Accountancy, asked by fehmidaaskani1, 21 hours ago

which of the following is a liability of a firm?

Answers

Answered by nithyashree1577

Answer:

Creditors are a liability. Creditors means the persons to whom business owes money. Creditors are the persons to whom the money is payable by the business in future. So it is a liability of business towards creditors to pay them in future so it comes under current liabilities in balance sheet.

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