In what circumstance month end liability wil increase ?



In what circumstance month end liability wil increase ?..

Answer / funsuk wangdu

when we do not pay monthly revenue expenditure, by the
effect of this liabilities will increase.
for example - outstanding wage or salary

Is This Answer Correct ?    10 Yes 0 No

Post New Answer

More Accounting General Interview Questions

Do you know what is liabilities and what all does include in current liabilities?

0 Answers  


What is the Difference Between Sales Tax and VAT ?

8 Answers  


"Closed Period" method. our current company method of accounting is called the "OPEN PERIOD". It's time we'd like to use the "CLOSED PERIOD". What is the standard timing and detailed procedure for closed period most of the company have been used. Please advise. thanks.

0 Answers  


what is BRS? How to prepare it?

5 Answers   Deloitte,


Purchases book records: (a) All cash purchases. (b) All credit purchases. (c) Credit purchases of goods in trade. (d) None of the above.

3 Answers  






what is t code of gr/ir report?

0 Answers  


Why we are crediting Gross profit or debiting a Gross loss in the profit and loss account?

1 Answers  


Define fictitious assets?

0 Answers  


Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help

0 Answers   SK Accountant,


my assessment says that I must post a dishonoured cheque in the general journal not a specialised journal how would I write that I know bank would be credited but what account would be debited???

0 Answers   TAFE,


Premium collected by Insurance co. What will be all Journal entries & effect in the book of Insurance co in Transaction date & Period end date.

1 Answers  


Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!

0 Answers  


Categories