Question : Creditors are
Option 1: Tangible Fixed Assets
Option 2: Other Current Liabilities
Option 3: Intangible Assets under Development
Option 4: Trade payable
Answer (1)
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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