Select the appropriate answer from the alternatives given below & rewr

1.	Select the appropriate answer from the alternatives given below & rewrite the completed statementBills payable is _________.OptionsLong term loanCurrent liabilityLiquid assetNet loss
Answer» Bills payable is current liability. Explanation: Bills payable are drawn in case of credit purchases. So, it is a liability to be paid in the near future, i.e. a short-term liability. It is generally payable within a period of 12 months, i.e. a year.

Select the appropriate answer from the alternatives given below & rewrite the completed statementBills payable is _________.OptionsLong term loanCurrent liabilityLiquid assetNet loss

Answer»

Bills payable is current liability.

Explanation: Bills payable are drawn in case of credit purchases. So, it is a liability to be paid in the near future, i.e. a short-term liability. It is generally payable within a period of 12 months, i.e. a year.

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Select the appropriate answer from the alternatives given below &amp; rewrite the completed statementBills payable is _________.OptionsLong term loanCurrent liabilityLiquid assetNet loss

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Select the appropriate answer from the alternatives given below & rewrite the completed statementBills payable is _________.OptionsLong term loanCurrent liabilityLiquid assetNet loss