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. 1. 2. Payable with current assets. 3. List A Face amount x Interest rate x Time. 4. a. b. Short-term debt to be refinanced with common stock. c. Present value of interest plus present value of principal. 5. Noninterest-bearing. 6. Noncommitted line of credit. 7. Pledged accounts receivable. 8. Reclassification of debt. 9. Purchased by other corporations. 10. Expenses not yet paid. 11. Liability until refunded. 12. Liability until satisfy performance obligation d. e. f. g. |h. I. J. k. 1. List B Informal agreement Secured loan Refinancing prior to the issuance of the financial statements Accounts payable Accrued liabilities Commercial paper Current liabilities Long-term liability Usual valuation of liabilities Interest on debt Customer advances Customer deposits

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. 1. 2. Payable with current assets. 3. List A Face amount x Interest rate x Time. 4. a. b. Short-term debt to be refinanced with common stock. c. Present value of interest plus present value of principal. 5. Noninterest-bearing. 6. Noncommitted line of credit. 7. Pledged accounts receivable. 8. Reclassification of debt. 9. Purchased by other corporations. 10. Expenses not yet paid. 11. Liability until refunded. 12. Liability until satisfy performance obligation d. e. f. g. |h. I. J. k. 1. List B Informal agreement Secured loan Refinancing prior to the issuance of the financial statements Accounts payable Accrued liabilities Commercial paper Current liabilities Long-term liability Usual valuation of liabilities Interest on debt Customer advances Customer deposits

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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.
1.
2. Payable with current assets.
3.
List A
Face amount x Interest rate x Time.
4.
a.
b.
Short-term debt to be refinanced with common stock. c.
Present value of interest plus present value of
principal.
5. Noninterest-bearing.
6. Noncommitted line of credit.
7.
Pledged accounts receivable.
8. Reclassification of debt.
9. Purchased by other corporations.
10. Expenses not yet paid.
11. Liability until refunded.
12. Liability until satisfy performance obligation
d.
e.
f.
g.
|h.
I.
J.
k.
1.
List B
Informal agreement
Secured loan
Refinancing prior to the issuance of the
financial statements
Accounts payable
Accrued liabilities
Commercial paper
Current liabilities
Long-term liability
Usual valuation of liabilities
Interest on debt
Customer advances
Customer deposits

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