Which of the Following Is Not a Liability

Unearned Revenue is a Current Liability. A classified balance sheet is used to.

Which Of The Following Items Would Require An Adjusting Entry At The End Of Each Accounting Period In 2022 Accounting Period Accounting The End

It requires the transfer of an economic resource to another entity.

. Which account is not a liability account. Which of the following is not a liability. A income tax payable.

Proceeds from the bonds were used to repay the note when due. The obligation involves a responsibility to settle with a definite or known party. Hence this option is incorrect.

40 A It represents a probable future sacrifice of economic benefits. Which of the following is not a current liability. A The signing of a three-year employment contract at a fixed annual salary B An obligation to provide goods or services in the future C A note payable with no specified maturity date D An obligation that is estimated in amount.

Current portion of a noncurrent note payable is a current liability. Each account can be classified as a. B It results from past transactions or events.

After the end of reporting period and before the issuance of the current year Bnancial statements the entity issued long-term bonds payable. Accounts Payable is a Current Liability. Which of the following would NOT be a liability.

State whether the following statements are True or False. A note payable due in 2 years. Which of the following is not a liability.

Which of the following is not a liability _____. Current portion of long-term debt. So it is a liability of business towards creditors to pay them in future so it comes under current liabilities in.

Which of the following is not a current liability. The wages you give up. Which of the following is a liability.

Which of the following is not a liability. Which of the following is not a current liability. A To provide information about the assets liabilities and capital of the enterprise.

The Non Current Liabilities Are Listed Individually Away From Current Liabilities In A Companys Balance Sheet. Question 11 of 20 50 50 Points Which of the following items is not a liability. Star wars tales comic high divide olympic national park which of the following is not a current liability.

Accounting Mcqs for Preparation of various Test announced by Fpsc kppsc Nts ppsc. Items in other alternatives uncalled liability on partly paid shares B. An unused line of credit.

Current maturities of long-term debt. Short-term obligations expected to be refinanced. 40 Which of the following is not a characteristic of a liability.

Hence this option is incorrect. A reliable estimated monetary value can be assigned to an obligation b. Which of the following is not true of a liability of the business.

The past transaction or event has resulted in an obligation c. Income due but not received is a liability. B To provide information about the private assets and liabilities of the proprietor.

Debts of debtors is not an uncertain event but only the realization of a part of the debt in doubtful for which provision must be provided and hence it is not a contingent liability. A Accounts Payable B Salaries Payable C Unearned Rent D All of the above answers are liabilities. C It must be payable in cash.

Which of the following is not an essential characteristic of a liability. 100 correct and accurate. C To maintain records of the business.

An entity had a note payable due next year. B Has revenues and expenses included. A separate the components of assets and liabilities.

Accounting mcqs for accountant. D It arises from present obligations to other entities. There are many accounts in an accounting system and these are displayed through the chart of accounts.

Asked May 16 2016 in Business by CurryManiac. Which one of the following is not an objective of accounting. Of the following items the only one which should not be classified as a current liability is a.

The balance due on your credit card B. These Mcqs are very helpful for the Preparation of various posts of Senior Auditor Junior Auditor. Hence this option is incorrect.

The obligation to settle cannot be avoided. Which of the following accounts is NOT a liability. Your college loans C.

It has arisen as a result of a past transaction or event. It represents a present obligation to another entity. See below for the correct answer.

The following video explaining the concept of liabilities. May be called up in the event of necessity claims against the company not acknowledged as debts c they may or may not turn out to be. Creditors are the persons to whom the money is payable by the business in future.

Creditors are a liability. Current portion of long-term debt. Creditors means the persons to whom business owes money.

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