Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Listed below are several terms and phrases associated with current liabilities

Listed below are several terms and phrases associated with current liabilities

 Listed below are several terms and phrases associated with current liabilities. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it.

 

 

List A

List B

_____

1. Cash, short-term investments, and accounts receivable all divided by current liabilities.

a. Recording a contingent liability

b. Disclosure of a contingent liability

c. Interest expense

_____

2. Loss is probable and can be reasonably estimated.

d. FICA

e. Commercial paper

_____

3. Gift cards.

f. The riskiness of a business’s obligations

_____

4. Long-term debt maturing within one year.

g. Current portion of long-term debt

h. Unearned revenues

_____

5. Social Security and Medicare.

i. Acid-test ratio

_____

6. Interest expense is recorded in the period interest is incurred rather than in the period interest is paid.

j. Accrual accounting

_____

7. Loss is reasonably possible and can be reasonably estimated.

 

_____

8. Incurred on a notes payable.

 

_____

9. Unsecured notes sold in minimum denominations of $25,000 with maturities up to 270 days.

 

_____

10.Classifying liabilities as either current or long-term helps investors and creditors assess this.

Jan 27 2020 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions