Question 36

The company pays its creditors by cheque. What is the effect on assets and liabilities?

Solution

The company pays its creditors by cheque. Then the effect on assets and liabilities is Reduce Bank and Reduce Creditors respectively.


Create a FREE account and get:

  • Download Maths Shortcuts PDF
  • 300+ previous papers with solutions PDF
  • 500+ Online Tests for Free

cracku

Boost your Prep!

Download App