Henry's company is preparing a detailed financial report. They are honest with their potential investors and want to explain the nature of their $350,000 in long-term notes payable. Where should this be disclosed? a b с d In a footnote In the operating activity of a cash flow statement In the liabilities side of a balance sheet In the assets side of a balance sheet

Henry's company is preparing a detailed financial report. They are honest with their potential investors and want to explain the nature of their $350,000 in long-term notes payable. Where should this be disclosed? a b с d In a footnote In the operating activity of a cash flow statement In the liabilities side of a balance sheet In the assets side of a balance sheet

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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Choose from the following list of terms and phrases to best complete the following statements. a. Cash c. Outstanding check e. Cash over and short b. Cash equivalents d. Liquidity f. Voucher system 1. The category includes currency, coins, and deposits in bank accounts. 2. The term refers to a company’s ability to pay for its current liabilities. 3. The category includes short-term, highly liquid investment assets that are readily convertible to a known cash amount and sufficiently close to their due dates so that their market value will not greatly change.
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