alleryStart learning →Asset or liability?
Exercise and reference answers
- Left
- Asset
- Items
- Item
- Fixed assets
- Answer
- Asset
- Item
- Inventories
- Answer
- Asset
- Item
- Trade receivables
- Answer
- Asset
- Item
- Trade payables
- Answer
- Liability
- Item
- Long borrowings
- Answer
- Liability
- Item
- Short borrowings
- Answer
- Liability
- Right
- Liability
- Instructions
- Swipe left for assets, right for liabilities.
Explanation
_Source: syllabus Accountancy, Ch 3 'Financial Statements of a Company'_
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