MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Liability

Obligations i...

Question

Obligations i.e. the amounts owed by the organisation are referred to as:

A

Capital

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Assets

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Liability

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

Equity

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Liability

Amount owed by any organisation to outsiders is known as the liability of the organisation.

Suggest Corrections

thumbs-up

0

Similar questions

Q. The amounts owed by an organisation are referred to as .

Q. Both assets and owner's equity (i.e. capital) would be increased by ___________.

Q. The accounting equation i.e. Assets = Capital + liabilities is based on _________________.

Q. Total assets of a firm is Rs.1,00,000, outside liability amounted to Rs.40,000, total capital contributed by the partners would be _________.

Q. Capital = Liability - Assets

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Basic Terms of Accounting

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon