The Reserve for Encumbrances account is properly termed a A: Long-term liability. B: Budgetary account. C: Current liability if paid<br/>within a year; otherwise a long-term debt. D: Reservation of fund<br/>equity.

The Reserve for Encumbrances account is properly termed a () A: Fixed<br/>liability. B: Reservation<br/>of fund equity. C: Budgetary<br/>account. D: Current<br/>liability if paid within a year; otherwise, long-term debt.

A company sold $12,000 worth of trampolines with an extended warranty. It estimates that 2% of these sales will result in warranty work. The company should: A: Consider the warranty expense a remote liability since the rate is only 2%. B: Recognize warranty expense at the time the warranty work is performed. C: Recognize warranty expense and liability in the year of the sale. D: Consider the warranty expense a contingent liability. E: Recognize warranty liability when the company purchases the trampolines.

Unearned revenue is a liability.

“严格责任”在英语中的准确表达是 A: criminal liability B: civil liability C: strict liability D: strict responsibility

At the commencement date of a lease, the right-of-use asset is always equal to the lease liability.

Limited Liability有限责任

The purchase of office supplies on account will: （ ）. A: Increase an asset and decrease a liability B: Increase one asset and decrease another asset C: Increase an asset and increase a liability D: Decrease an asset and decrease a liability

Limited partners stay away from management of the firm but take unlimited liability.

All risks is actually the sum of FPA, WPA and general additional insurance liability.()