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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- Which 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 liability
- FgWhich of the following would be considered a long-term liability? a. interest payable b. mortgages payable c. accounts payable d. salaries payableWhich 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 liability
- which of the followings is considered as long term liability :Select one .a mortgage payable .b current portion of long term liability .C bank overdraft .d unearned revenuesWhich of the following is an accrued liability? * O Unearned subscriptions revenue Current portion of long-term debt payable O wages payable O Rent revenueWhich 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 payable
- Which of the following is a current liability? a) Notes Payable (due in 2 years) b) Unearned Revenue c) Bonds Payable d) EquipmentThe 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 liabilityWhat is a long term liability? a. any debt that extends for more than 1 year b. assets=liabilities + owners equity c. fixed cost fall under the overhead d. payroll cost for labor, such as taxes and insurance