Which items from the following list are liabilities of Annes Mini Market? Stock Money owed
Question:
Which items from the following list are liabilities of Anne’s Mini Market?
■ Stock
■ Money owed to Kelloggs for the supply of breakfast cereals
■ A van used for collecting goods from the local cash and carry
■ An HP debt owed to Bent Finance Ltd for a van purchase
■ Three freezer cabinets
■ Six display units
■ Money owed by the Crown Hotel for goods supplied by Anne
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Liabilities are obligations or debts that a business owes to other parties Looking at the list provi...View the full answer
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