Which of the following would be classified as a current liability? a) Long-term loan b) Notes Payable (due in 6 months) c) Buildings d) Retained Earnings
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- General AccountingWhich of the following would most likely be classified as a current liability? Bonds payable Accounts payable O Mortgage payable O Three-year notes payableWhich of the following is most likely to be classified and reported as current liability? a. Bond Payable b. Unearned Rent c. Mortgage Payable d. Two-year Note Payable e. None of the above.
- Where is debt callable by the creditor reported on the debtor's financial statements? a) Long term liability b) Current liability if the creditor intends to call the debt within the year , otherwise a long term liability. c) Current liability if it is probable that creditor will call the debt within the year, otherwise a long term liability. d) current liabilityFgWhich of the following would be considered a long-term liability? a. interest payable b. mortgages payable c. accounts payable d. salaries payable
- Which of the following is most likely to be regarded as an estimated liability that is subject to provision? a. Deferred revenues b. Current portion of a long-term debt c. Payroll liabilities d. Vacation pay liabilityWhich of the following is not considered a current liability?A. Accounts PayableB. Unearned RevenueC. the component of a twenty-year note payable due in year 20D. current portion of a noncurrent note payableWhich of the following is a current liability? a) Notes Payable (due in 2 years) b) Unearned Revenue c) Bonds Payable d) Equipment
- The estimated warranty obligation at the end of the financial year is best described as a A. Uncertain liability OB. Contingent liability O C. Liability O D. Constructive liability OE. Unrecognized liabilityA current liability is a debt that can reasonably be expected to be paid Select one: a. between 6 months and 18 months. b. within one year or the operating cycle, whichever is longer. C. out of currently recognized revenues. d. out of cash currently on hand.Help