Explain. The financial activities which are performed regularly are known as: a.Recurring Finance b.None of these c.Non-recurring finance functions d.Both a and b
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The financial activities which are performed regularly are known as:

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- Salaries Payable, Accounts Payable, and Unearned Revenue are examples of ________. A. short−term investments B. fixed assets C. long−term liabilities D. current liabilitiesw.com/takeAssignment/takeAssignmentMain.do?invoker= &takeAssign On the balance sheet, liabilities are generally classified as O legal or nonlegal. O probable or estimated. current or long-term. material or immaterial.2. Under FASB Statement of Financial Accounting Concepts No. 6, liabilities include a. only legal obligationsb. both legal and illegal obligationsc. both legal and nonlegal obligationsd. legal, nonlegal, and illegal obligations
- True or False: The classified balance sheet will reflect accounts receivables at net realizable value; fixed assets at net book value; and short term investments (trading securities/common stock) at their fair value/market value. O True O FalseFair value is used to value which of the following balance sheet accounts? a. Prepaid expenses; patents; property, plant, and equipment b. Capital lease obligations, bonds payable c. Receivables net of allowance for doubtful accounts d. Debtsecurities available for sale, trading securitiesSolve this
- Listed below are several terms and phrases associated with current liabilities. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it. List A List B 1. An IOU promising to repay the amount borrowed plus interest. 2. Payment amount is reasonably possible and is reasonably estimable. 3. Mixture of liabilities and equity a business uses. 4. Payment amount is probable and is reasonably estimable. 5. A liability that requires the sacrifice of something other than cash. 6. Long-term debt maturing within one year. 7. FICA and FUTA. 8. Informal agreement that permits a company to borrow up to a prearranged limit. 9. Classifying liabilities as either current or longterm helps investors and creditors assess this. 10. Amount of note payable × annual interest rate × fraction of the year. a. Recording of a contingent liability. b. Deferred revenue. c. The riskiness of a business’s obligations. d. Disclosure of a contingent liability.…Which one of the following is an advantage of the factoring of debtor accounts? Select one: a. The income of debtor administration is transferred to the factor. b. The turnover of non-current assets is increased. c. Liquidity ratios improve. d. More credit is available for other purposes.Accounts payable and accrued liabilities are interchangeable account titles. Group of answer choices A)True B)False

