Which of the following is a liability?

A Cash
B Equipment
C Debtors
D Creditors

Correct Answer: Creditors

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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Related Questions

Which one of the following is not a Current Liability?
A Bonds payable
B Accounts Payable
C Notes Payable
D Tax Payable
Which one the following is not currect liability?
A Bonds payable
B Accounts Payable
C Notes Payable
D Tax Payable
which of the following is a contingent liability?
A Proposed Dividend
B calls in Advance
C Provision for Bad Debts
D Liabilities undr pending Law suit
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A Assist in the day -to day management
B Ensure that the business pays -correct dividend
C Enable business to py correct amount of tax
D Help direction discharge their obligations to shareholder.
Which of the following is an example of business liability?
A Land
B Building
C Cash
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A Business entity concept
B Money measurement concept
C Cost concept
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A Outstanding expenses
B Share capital
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D All of the above
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