9. Current Liabilities

Which one of the following fixed assets is not depreciated?

Liabilities that are due within one year (or the company’s operating cycle if longer) are:

Which of the following is NOT considered a current liability?

Creditors' claims on assets are called:

Which of the following represents an obligation of the company?

Which of the following best describes money borrowed from a business or investor that must be repaid over time with interest?

Which of the following would NOT be classified as a liability of a company?

Which of the following is a long-term debt obligation of a corporation or government?

Which of the following is a characteristic of a liability?

Which of the following is a primary factor that determines the interest rate charged on borrowed money when using credit?

When cash is surrendered from a recently-issued whole life insurance policy, how should this transaction be classified on the balance sheet?

Long-term debts (liabilities) for corporations and governments are called:

Which of the following best describes the alternative minimum tax (AMT) as a liability?

Which of the following types of liabilities normally has an associated contra account?

Which type of interest does not change over the life of a loan?