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Question

Super Bazar purchases goods for Rs.10,000 on credit for a month from Fast Food Products on March 25, 2018. If the balance sheet of Super Bazaar is prepared as at March 31, 2018, Fast Food Products will be shown as:


A

Debtors on the asset side

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B

Creditors on the liability side

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C

Long term liability

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D

It will not be shown

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Solution

The correct option is B

Creditors on the liability side


If the balance sheet of Super Bazaar is prepared on March 31, 2018, Fast Food Products will be shown as creditors on the liabilities side of the balance sheet.


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