Typical current liability accounts include accounts payable,unearned revenue, bonds payable.

The purchase of tools on account is recorded by a A: debit to Accounts Payable and a credit to Tools. B: credit to Tools and a credit to Accounts Payable. C: debit to Tools and a credit to Accounts Payable. D: debit to Tools and a debit to Accounts Payable.

Amortizing a bond discount: A: Allocates a portion of the total discount to interest expense each interest period. B: Increases the market value of the Bonds Payable. C: Decreases the Bonds Payable account. D: Decreases interest expense each period. E: Increases cash flows from the bond.

All of the following are reported as current liabilities EXCEPT:（ ） A: bond payable for 5years B: notes payable due in 6 months C: accounts payable D: sales tax payable

Which ones are included by liabilities? A: Notes payable B: Rent revenue C: Accounts payable D: Taxes payable

Liabilities are amounts owned to outsiders, such as notes payable, accounts payable, .

Which<br/>of the following accounts is NOT a liability? ( ) A: Accounts Payable B: Notes Payable C: Salaries Payable D: Accounts Receivable

A purchase of inventory on credit is referred to as a(n) A: notes receivable. B: accounts receivable. C: accounts payable. D: capital stock. E: notes payable.

Holt Company sold $1,000 of goods on credit to Renfrew Company. This would be recorded as an Account ( ) of Holt company and as an Account ( ) of Renfrew Company. A: Receivable, Receivable B: Payable, Payable C: Receivable, Payable D: Payable, Receivable

All of the following are liability accounts except__________. A: accounts payable B: unearned ticket revenue C: taxes payable D: commissions earned E: notes payable