which of the followings is considered as long term liability :Select one .a mortgage payable .b current portion of long term liability .C bank overdraft .d unearned revenues

Q: A debt security pays A) A fixed level of income for the life of the owner. B) A variable level of…

A: The debt securities are those assets or financial assets that provide regular interest payments to…

Q: b.bond payable c.two-year note payable

A: Current liabilities are a company's short-term financial commitments due within a year or during a…

Q: Which one of the following statements does not describe liabilities correctly? Select one: O a. Most…

A: Liabilities are described as obligations which are required to be paid by the business. These are…

Q: Which of the following will be classified as a current liability? O a. Two-year noțes payable Ob.…

A: Please find the answer to the above question below:

Q: Which of the following is most likely to be regarded as an estimated liability that is subject to…

A: Solution Concept Estimated liability that is subject to provision           It means that the amount…

Q: Which of the following is an accrued liability? * Unearned subscriptions revenue Current portion of…

A: Liabilities that are recorded in the balance sheet are of two types they are -  Current liabilities.…

Q: Which of the following would be considered a long-term liability? a. interest payable b.…

A: Analysis of options a. interest payable Since interest will be paid within 12 months or normal cycle…

Q: Identify the types of information that can readily be deter-mined from an amortization table for an…

A: Meaning of amortization table Amortization table is a table which consists of all the details…

Q: Of the following items, the only one which should not be classified as a current liability is…

A: Current Liabilities are those liabilities or obligations that needs to be settled or paid in short…

Q: Which of the following items is most likely a short-term liability? Select one: a. Finance lease…

A: Answer is option c) Accounts payable

Q: Interest expense

A: Interest expense paid on a loan which has prescribed is deductible from gross income of the payor…

Q: Determine the correct classification of the following liabilities: (1)      Liability with a due…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: Which of the following statements is true?   a. If any portion of a non-current liability is to be…

A: current liability -  liabilities that are to be paid within one year are current liabilities.…

Q: 7. Which of the following accounts is an liability? a. Bank deposit b. Prepaid insurance expense c.…

A: Liability is an obligation for a business. It arises when anything is payable in future or any…

Q: What are the three elements of the definition for liabilities? List from the following items that…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Which of the following would not be considered a general long term liability? Select one: a. Long…

A: Short term obligations are the obligations that have to be paid within a  year. whereas, long term…

Q: Which of the following is a charteristic of a current liability

A: Liability: Liability is the obligation of the company to pay which comes from a past activity done…

Q: Which of the following is not a liability?a. Income taxes payableb. Accrued warranties payablec.…

A: Liability are the obligations which are to be paid in current period or in future.

Q: Interest payable is shown on the Oincome statement as an operating exp Obalance sheet as a long-term…

A: Interest payable is a liability account, shown on a company's balance sheet, which represents the…

Q: Which of the following is most likely to be classified and reported as current liability? a. Bond…

A: The liabilities that are payable within one year are classified as current liabilities. It includes…

Q: hich of the following best describes the accounting for assurance-type warranty costs?

A: Since an assurance-type warranty guarantees the functionality of a product, the warranty is not…

Q: The currently maturing portion of long-term debt should be classified as a current liability if the…

A: Answer: The currently maturing portion of long term debt should be classified as current liability…

Q: A(n) is where the debtor delivers personal property to the creditor to secure the debt. (one word)

A: bailment represent a legal relationship where physical position of the person property transferred…

Q: RUE OR FLASE? The effect of a lender agreeing to give the borrowing entity a grace period within…

A: Non Current Liability are long term liabilities where their payment is due  12 months  after the…

Q: Which is the proper accounting treatment for a mortgage payment? a) Debit: Expense Debt Service…

A: A mortgage payment is a payment of liability for the organization. A reduction in liability is…

Q: Mezzanine Debt is generally collateralized by O A first deed of trust O A high rate of interest O A…

A: Mezzanine debt is a financing instrument which is a hybrid of debt and equity. It has higher risk…

Q: Which of the following items is most likely a short-term liability?a. Deferred income taxesb.…

A: Short term liability means liabilities which are to paid in within next year or within the time of…

Q: Determine the correct classification of the following liabilities:

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: Which one of the following is a special type of liability? a. Accrued expenses b. Salaries payable…

A: Accrued expense: These are those expenses which due but not yet paid.This is short term liability…

Q: If there is evidence that an impairment loss on loans and receivables has been incurred, the amount…

A: Impairment Loss = Carrying Value - Recoverable amount Recoverable Amount is higher of the…

Q: Which of the following is true when the mortgage loan is an amortizing loan? a. At the beginning of…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Where is debt callable by the creditor reported on the debtor's financial statements? a) Long term…

A: Definition:   Current liabilities: The obligations owed by a company to creditors and suppliers and…

Q: ne loans which are to be repaid within a short O a. Fixed liabilities b. Long-term liabilities C.…

A: Ans. Liabilities can be of many types - i. Current Liabilities  ii. Non-current Liabilities iii.…

Q: The current portion of long-term debt should a.be reclassified as a current liability b.be paid…

A: The liabilities which are payable within one year are considered but the liabilities having life…

Q: Which of the following is usually not an accrued liability? Select one: a. Notes payable b. Taxes…

A: Accrued liability refers to the amount of liability that represents the expenses for the current…

Q: Classifying Liability-Related Accounts into Balance Sheet or Income StatementIndicate the proper…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: When the amount of rebate on bills discounted shown in the adjustments, then it has to be: a.…

A: When the amount of rebate on bills discounted shown in the adjustments, then it has to be Deducted…

Q: RUE OR FALSE? The effect of a lender agreeing to give the borrowing entity a grace period after the…

A: Current liabilities: Current liabilities are the obligations that are to be met within a year or 12…

Q: In the amortization of loans, interest must be paid at the beginning of each period calculated on…

A: Loans are amortized or paid off by way of scheduled and periodic regular payments. The payment…

Q: Which of the following should be classified as noncurrent liability? Unearned revenue Accrued…

A: >Non current liabilities are the liabilities that are to be repaid in long term, say, after 1…

Q: Which of the following is not a liability?

A: Liabilities:   Liabilities are referred to as the obligation of the business towards the creditors…

Q: Why A debt security pays a fixed stream of income or a stream of income that is determined according…

A: Debt instruments It is the fixed-income securities that generally make payment of fixed interest…

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.