100%(2)2 out of 2 people found this document helpful
This preview shows pages 5–7. Sign up to view the full content.
List AList Bg1. Long-term debt maturing within one year. a. Interest expense e2. Classifying liabilities as either current or long-term helps investors and creditors assess this. b. Accrual accounting f3. Cash, short-term investments, and accounts receivable all divided by current liabilities. c. Recording a contingent liability a4. Incurred on a notes payable. d. Deferred revenues b5. Interest expense is recorded in the period interest is incurred rather than in the period interest is paid. e. The riskiness of a business’s obligations c6. Loss is probable and amount is reasonably estimable. f. Acid-test ratio d7. Gift cards. g. Current portion of long-term debt
has intentionally blurred sections.
Sign up to view the full version.