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Question : Creditors are

Option 1: Tangible Fixed Assets

Option 2: Other Current Liabilities

Option 3: Intangible Assets under Development

Option 4: Trade payable


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: Other Current Liabilities


Solution : Answer = Other Current Liabilities

Creditors are typically categorized as trade payables, which represent amounts owed to suppliers for goods or services purchased on credit. They fall under the category of Other Current Liabilities in the balance sheet, reflecting short-term obligations that the company must settle within a year.
Hence, the correct option is 2.

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