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Textbook Notes for Ralph Cecere

MCGILLACCT 352Ralph CecereFall

ACCT 352 Chapter Notes - Chapter 14: Effective Interest Rate, Promissory Note, Interest Expense

OC415908 Page
22 May 2012
31
Lt debt consists of obligations that are not payable within a year or the operating cycle of the business, whichever is longer, and will therefore requ
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MCGILLACCT 352Ralph CecereFall

ACCT 352 Chapter Notes - Chapter 13: Book Value, Income Statement, Deferral

OC4159012 Page
22 May 2012
33
A liability is an obligation that arises from past transactions or events, which may result in a transfer of assets. A liability of an entity is a pres
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