That amount which business organisations have to pay up to external members is known as a liability.
These are:
- Bank overdraft
- Capital
- Outstanding expenses
- Reserve Fund
- Debenture
- Deposits
- Incomes that has been received in advance
- Those expenses that are due but final payment has not been made
- Sundry creditors
- Mortgage loans
- Payable bills
- Proposed Dividend
- Taxation
Links of Previous Main Topic:-
- Preparation of final accounts
- Recording of business transaction basis of accounting
- Single entry system of bookkeeping
- Double entry system of bookkeeping
- Classification of accounts
- Rules of double entry or accounting rules
- Accounting cycle
- Journal
- Ledger
- Trial balance
- Income
- Expenditure
- Assets
Links of NextΒ Financial Accounting Topics:-
- Final accounts
- Trading account
- Profit and loss account
- Balance sheet
- Adjustments in financial accounting