b.bond payable c.two-year note payable
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Which of the following would most likely be classified as a current liability?a.mortgage payableb.bond payablec.two-year note payabled.unearned rent
Current liabilities are a company's short-term financial commitments due within a year or during a regular operational cycle. Accounts payable, short-term debt, dividends, and notes payable, as well as income taxes owed, are examples of current obligations.
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- Which of the following will be classified as a current liability? O a. Two-year noțes payable O b. Unearned rent Oc. Bonds payable Od. Mortgage loanWhich 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.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 revenues
- Which 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 items is most likely a short-term liability?a. Deferred income taxesb. Finance lease covering 30-year termc. Bonds payabled. Accounts payableWhich of the following items is most likely a short-term liability? Select one: a. Finance lease covering 30-year term b. Deferred income taxes c. Bonds payable d. Accounts payable
- What are the criteria for classifying an item as a current liability? What are some examples of current liabilities? Why is it important to classify a portion of long-term debt on a yearly basis as a current liability? What is the implication of misclassifying a liability as current or long-term?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 liabilityWhich of the following is classified as nonmonetary? a. Warranty liability b. Accrued expense c. Unamortized discount on bonds payable d. Refundable deposit
- The current portion of long-term debt should Select one: a. be reclassified as a current liability. b. be classified as a long-term liability. C. not be separated from the long-term portion of debt. d. be paid immediately.The current portion of long-term debt should a.be reclassified as a current liability b.be paid immediately c.not be separated from the long-term portion of debt d.be classified as a long-term liabilityThe 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 liability