ch13 - Question1 (1point) Save A zero-interest-bearing note...

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Question 1 (1 point) Save
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     A zero-interest-bearing note payable that is issued at a discount will not result in any interest expense being recognized.   True False Question  2 (1 point) Save      Dividends in arrears on cumulative preferred stock should be recorded as a current liability.   True False Question  3 (1 point) Save      Discount on Notes Payable is a contra account to Notes Payable on the balance sheet.   True False Question  4 (1 point) Save     Any portion of lo ng-term debt maturing within the next year must be classified as a current liability on the balance sheet.   True False Question  5 (1 point) Save      Many companies do not segregate the sales tax collected and the amount of the sale at the time of the sale.   True False Question  6 (1 point) Save   
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  Companies report the amount of social security taxes withheld from employees as well as the companies’ matching portion as current liabilities until they are remitted.  
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This note was uploaded on 11/16/2010 for the course ACCT acct 103 taught by Professor Rishard during the Spring '10 term at American River.

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ch13 - Question1 (1point) Save A zero-interest-bearing note...

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