Types of Liabilities and Owner's Equity

These are also known as short-term liabilities, which are debts or obligations that need to be paid within a year. 

• a. capital lease

• b. current liabilities

• c. long term payables

• d. non-current payables

These are also known as long-term liabilities, which are debts or obligations that are due in over a year.

• a. capital leaseles

• b. current liabilities

• c. long term payables

• d. non-current payables

This is a contract entitling a renter to the temporary use of an asset, and such a lease has the economic characteristics of asset ownership for accounting purposes.

• a. capital lease

• b. current liabilities

• c. long term payables

• d. non-current payables

This payable is a type of account in the current liabilities section of a company's balance sheet. 

• a. capital lease        

•      

  b. current liabilities

•      

  c. income taxes payable

• d. long term liabilities

This is a tax that is assessed or is due for the current period but has not yet been paid.

• a. accounts payable

• b. deferred tax liability

• c. income tax payables

• d. long term liabilities

These are crucial in determining a company’s long-term solvency.

• a. accounts payable

• b. deferred tax liability

• c. income tax payables

• d. long term liabilities

These are money owed by the company

• a. accounts payable ies

• b. deferred tax liability

• c. income tax payables

• d. long term liabilities

This is just a promise to pay a series of payments over time (the interest component) and a fixed amount at maturity (the face amount).

• a. accounts payable

• b. bond payable

• c. taxes payable

• d. wages payable

These are liabilities such as utility bills.

• a. bills payable

• b. bond payable

• c. taxes payable

• d. wages payable

It is a type of account in the current liabilities section of a company's balance sheet. It is compiled of taxes due to the government within one year.

• a. capital lease ies

• b. current liabilities

• c. income taxes payable

• d. long term liabilities