ADMS 3520 Lecture Notes - Dixie Chicks, Frosted Flakes, Dog Toy
2 Nov 2012
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Ifrs questions are available at the end of this chapter. Answer d d a a b d c d c d c d c d b a. 3: reporting discount on notes payable, currently maturing long-term debt. Social security taxes as liabilities: definition of accumulation rights, recognizing compensated absences expense. Affect on current ratio: reporting current liabilities. Description: definition of a liability, nature of current liabilities, recording of accounts payable, classification of notes payable, classification of discounts on notes payable. 28: dividends reported as current liability, classification of stock dividends distributable. 32: characteristic of current liability, definition of a liability. Identify item which is not a current liability. 38: callable debt reporting, condition to exclude short-term obligation. 41: disclosure of preferred dividends not declared. 45: determine what is a liability, classification of sales taxes. 54: compensated absences, requirements for compensated absences accrual, condition for sick pay accrual. 58: definition of a contingency, recording contingent liability.
