Home › CBSE Class 12 (Commerce) › Accountancy › Financial Statements of a Company › Under Schedule III, the term 'sundry creditors' …
Under Schedule III, the term 'sundry creditors' is replaced by
ATrade payables
BOther creditors
CBills payable
DAccounts due
Answer & Solution
Correct answer: A. Trade payables
Schedule III uses the heading trade payables in place of the older term sundry creditors.
Related questions
Labour unions use financial statements when negotiatingAnother name for the balance sheet is the statement ofMD&A in an annual report gives a narrative from the view ofInternational Financial Reporting Standards are developed by theGAAP stands forConsolidated statements present a parent and its subsidiaries asMoney received for services not yet provided is recorded asApple trees grown to produce apples are an example of