Question

accrued income,petty cash,loan,motor expenses which one is not appear in statement of financial position

accrued income,petty cash,loan,motor expenses which one is not appear in statement of financial position

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Answer #1

Motor expenses is the one which does not appear in the statement of financial position. It is because it appears in the income statement and not in the statement of financial position. Motor expense is shown on the expense side of the income statement. While the other options which are accrued income, petty cash and loan, all of them appear in the financial statement. Accrued income and petty cash appear on the asset side of the financial statement while loan appears on the liability side of the financial statement.

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