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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.
Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false .
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'A'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A)...
Accounts payable is the money a company owes its vendors, while accounts receivable is the money that is owed to the company, typically by customers. When one company transacts with another on credit, one will record an entry to accounts payable on their books while the other records an entry to accounts receivable.
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Directions : In the following questions, a statement of Assertion (A)...
Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.
Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.
The correct choice is option 'A' which states that both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Explanation:
Assertion (A) is true. Accounts Payables refer to the amount that a company owes to its suppliers, vendors, and other parties for goods and services purchased on credit. These payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.
Reason (R) is also true. Accounts Payable is the money that the company owes to its suppliers, partners, and employees. These payables are created when the company receives goods or services on credit and becomes payable to the vendor on a future date.
Therefore, the Reason (R) correctly explains Assertion (A). Accounts Payables are considered a part of the company's short-term liabilities as they are expected to be paid within one year. Current Liabilities are obligations that are due within one year, and Accounts Payables fall under this category.
Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.
The correct choice is option 'A' which states that both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Explanation:
Assertion (A) is true. Accounts Payables refer to the amount that a company owes to its suppliers, vendors, and other parties for goods and services purchased on credit. These payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.
Reason (R) is also true. Accounts Payable is the money that the company owes to its suppliers, partners, and employees. These payables are created when the company receives goods or services on credit and becomes payable to the vendor on a future date.
Therefore, the Reason (R) correctly explains Assertion (A). Accounts Payables are considered a part of the company's short-term liabilities as they are expected to be paid within one year. Current Liabilities are obligations that are due within one year, and Accounts Payables fall under this category.
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Accounts Payables are recorded in the heading of Current Liabilities in the Balance Sheet of the company.Reason (R): Accounts Payable is the money the company currently owes to its suppliers, partners, and employees.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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