acc400r1SAQwk2 - ACC 400 Accounting for Decision Making ACC...

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ACC 400 Accounting for Decision Making ACC 400 Self-Assessment Questions Week Two: Liabilities and Equity Note: Answers to questions appear on the last page of this document. Which of the following does not belong in the current assets section of the balance sheet? Cash Short term investments Inventories Construction in process Prepaid expenses Accumulated depreciation will be shown on the balance sheet in what section? Current assets Property, plant and equipment Intangible assets Long-term investments Other assets A company that has more current liabilities than current assets often lacks liquidity. True False Accounts payable will always be shown first in the current liabilities section since these will be paid before any other liability. True False To obtain large amounts of capital issuance of bonds relative to common stock is advantageous for all of the following reasons except : Tax savings result The company need not pay off the bonds until it has adequate cash Stockholder control is not affected
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This note was uploaded on 04/07/2010 for the course ACC 400 taught by Professor P i during the Winter '09 term at University of Phoenix.

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acc400r1SAQwk2 - ACC 400 Accounting for Decision Making ACC...

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