Acc 304 Week 9 Quiz – Strayer New

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ACC 304 Week 9 Quiz – Strayer NEW Click On TheLink Below to Purchase A+ Graded MaterialInstant Download http://www.hwgala.com/ACC-304-Week-9-Quiz-Strayer-NEW-ACC304W9Q.htm Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14 CURRENT LIABILITIES AND CONTINGENCIES IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual 1. Azero-interest-bearing note payable that is issued at a discount will not resultin any interest expense being recognized. 2. Dividendsin arrears on cumulative preferred stock should be recorded as a currentliability. 3. Magazinesubscriptions and airline ticket sales both result in unearned revenues. 4. Discounton Notes Payable is a contra account to Notes Payable on the balance sheet. 5. Alllong-term debt maturing within the next year must be classified as a currentliability on the balance sheet. 6. Ashort-term obligation can be excluded from current liabilities if the companyintends to refinance it on a long-term basis. 7. Manycompanies do not segregate the sales tax collected and the amount of the saleat the time of the sale. 8. Acompany must accrue a liability for sick pay that accumulates but does notvest. 9. Companiesreport the amount of social security taxes withheld from employees as well asthe companies’ matching portion as current liabilities until they are remitted. 10. Accumulatedrights exist when an employer has an obligation to make payment to an employeeeven after terminating his employment. 11.

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ACC 304 Week 9 Quiz – Strayer NEW Click On TheLink Below to Purchase A+ Graded MaterialInstant Download http://www.hwgala.com/ACC-304-Week-9-Quiz-Strayer-NEW-ACC304W9Q.htm Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14 CURRENT LIABILITIES AND CONTINGENCIES IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual 1. Azero-interest-bearing note payable that is issued at a discount will not resultin any interest expense being recognized. 2. Dividendsin arrears on cumulative preferred stock should be recorded as a currentliability. 3. Magazinesubscriptions and airline ticket sales both result in unearned revenues. 4. Discounton Notes Payable is a contra account to Notes Payable on the balance sheet. 5. Alllong-term debt maturing within the next year must be classified as a currentliability on the balance sheet. 6. Ashort-term obligation can be excluded from current liabilities if the companyintends to refinance it on a long-term basis. 7. Manycompanies do not segregate the sales tax collected and the amount of the saleat the time of the sale. 8. Acompany must accrue a liability for sick pay that accumulates but does notvest. 9. Companiesreport the amount of social security taxes withheld from employees as well asthe companies’ matching portion as current liabilities until they are remitted. 10. Accumulatedrights exist when an employer has an obligation to make payment to an employeeeven after terminating his employment. 11.

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ACC 304 Week 9 Quiz – Strayer NEW Click On TheLink Below to Purchase A+ Graded MaterialInstant Download http://www.hwgala.com/ACC-304-Week-9-Quiz-Strayer-NEW-ACC304W9Q.htm Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14 CURRENT LIABILITIES AND CONTINGENCIES IFRS questions are available at the end of this chapter. TRUE-FALSE—Conceptual 1. Azero-interest-bearing note payable that is issued at a discount will not resultin any interest expense being recognized. 2. Dividendsin arrears on cumulative preferred stock should be recorded as a currentliability. 3. Magazinesubscriptions and airline ticket sales both result in unearned revenues. 4. Discounton Notes Payable is a contra account to Notes Payable on the balance sheet. 5. Alllong-term debt maturing within the next year must be classified as a currentliability on the balance sheet. 6. Ashort-term obligation can be excluded from current liabilities if the companyintends to refinance it on a long-term basis. 7. Manycompanies do not segregate the sales tax collected and the amount of the saleat the time of the sale. 8. Acompany must accrue a liability for sick pay that accumulates but does notvest. 9. Companiesreport the amount of social security taxes withheld from employees as well asthe companies’ matching portion as current liabilities until they are remitted. 10. Accumulatedrights exist when an employer has an obligation to make payment to an employeeeven after terminating his employment. 11.