Question 1 (1 point) Which of the following most likely would be classified as a current...
Of the following, which usually would not be classified as a current liability? Multiple Choice A nine-month note to be paid with the proceeds from the sale of common stock. Bonds payable maturing within the coming year. Estimated warranty liability. Subscription revenue received in advance.
10. Which type of financial statement user would most likely ask the following question after reviewing the financial statements: Can we afford a new marketing campaign? A) Internal User B) External User C) Both Internal and External User 11. The classified Balance Sheet will reflect the following ASSET Categories EXCEPT: A) Property, plant and equipment B) Intangible assets C) Current assets D) Notes payable E) Long-Term investments
Which of the following accounts could not be classified as a current liability? A.) notes payable (due in 5 years) B.)accounts payable C.)current portion of long-term note payable D.)notes payable (due in 11 months) E.) unearned Revenue
D Question 26 3.5 pts . ELLER Which of the following would be a classified as a Current Liability? Debt due within 312 days Debt due within 394 days O A long-term contingent obligation Long term Bonds Payable
2. Which of the following lease contract would be the most likely be classified as a finance lease by the lessee? a. The lease term is 7 years and economic life of the lease asset is 8 years b. The fair value of the lease asset is $20 million, and the present value of the lease payments is $13 million c. Ownership of the leased assets reverts to the lessor at the end of the lease term d. The lessee...
Which expenses would most likely be classified as prepaid expenses (asset) rather than accrued expenses (liability)? Wages Rent Insurance Premiums Utilities (power, water, etc.) (Check all that apply)
1. Classified Balance Sheet The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the current asset; property, plant, and equipment; current liability; long-term liability; or owner's equity section of the December 31, 2018, balance sheet of Waterloo Consulting. 1. Building 2. Cindy Sue Delaney, Capital 3. Notes Payable (due in five years) 4. Prepaid Rent 5. Salaries Payable 6. Supplies 7. Taxes Payable 8. Unearned Service Fees Options are:...
4. Which of the following would represent a statement that a company would likely not receive from their financial institution to perform a reconciliation in QuickBooks? a. Credit card statement b. Mortgage statement c. Chequing Account statement d. Savings Account statement 5. ‘Accumulated depreciation’ is typically what kind of account in QuickBooks: a. A subaccount of a fixed asset account b. A subaccount of a current asset account c. An expense account d. a subaccount of a liability account 6....
of the following, which typically would not be classified as a current liability? Multiple Choice o A six-month bank loan to be paid with the proceeds from the sale of common stock. . Rent revenue received in advance. 0 0 A long-term noté payable maturing within the coming year. 0 Estimated liability from cash rebate program Google Chrome
QUESTION 1 The cost of milk used to manufacture ice cream would most likely be classified as a(n): Variable cost Indirect cost Sunk cost Differential cost QUESTION 2 Which of the following would not usually be considered a fixed cost? Insurance Executive salaries Plant depreciation Needles used in a hospital QUESTION 3 The product costs of a software development company would NOT include: Computer lease Salary of the CEO Supplies used by programmers Computer programmers's salaries QUESTION 4 Which of...