Current Liabiltities

Current Liabiltities

11th Grade - University

16 Qs

quiz-placeholder

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Current Liabiltities

Current Liabiltities

Assessment

Quiz

Other

11th Grade - University

Hard

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

All of the following are current liabilities except:

Accounts Payable
Notes Payable
Dividends Payable
Bonds Payable

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Differences between Accounts Payable and Notes Payable is:

Interest is charged on a note.
Accounts payable are long-term debts.
A note can be switched to an account payable.
Accounts payable can be either interest-bearing or noninterest-bearing.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unearned Revenue is classified as a current asset until the service or product has been rendered.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is paid on the maturity date for an interest-bearing note payable?

Principal
Interest
Principal + Interest
Proceeds

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is paid on the maturity date for a  noninterest-bearing note payable?

Principal
Interest
Principal + Interest
Proceeds

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The adjusting entry for an interest-bearing note payable at the end of the accounting period is for the accrued interest.

True
True
False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The adjusting entry for a noninterest-bearing note payable at the end of the accounting period is for the accrued interest.

True
True
False

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