A: Obligations do not include legal commitment obligations.
B: Liabilities arise from transactions or events that have already happened.
C: Most liabilities involve an obligation to transfer assets in the future.
D: Business is full of uncertainty.
举一反三
- Uncertainties such as natural disasters: A: Are not contingent liabilities because they are future events not arising from past transactions or events. B: Are contingent liabilities because they are future events arising from past transactions or events. C: Should be disclosed because of their usefulness to financial statements. D: Are estimated liabilities because the amounts are uncertain. E: Arise out of transactions such as debt guarantees.
- Owners' equity is measured by subtracting liabilities from assets. This sentence can be described as the following equation ______. A: ASSETS - LIABILITIES + OWNER'S EQUITY B: ASSETS - LIABILITIES = OWNER'S EQUITY C: OWNER'S EQUITY = ASSETS + LIABILITIES D: OWNER'S EQUITY = LIABILITIES - ASSETS
- Which statement regarding the liabilities and owners’ equity section of balance sheet is False? A: Payment of Dividend Payable eliminates both the assets and the owners’ equity. B: Liabilities are debts or obligations that must be discharged in money or services in the future. C: Owners’ equity is a residual claim to the remaining assets after discharge of debts. D: Balance sheet of corporations should separate Capital Stock and Retained Earnings
- Which of the following are correct descriptions of Current ratio A: Current assets-current liabilities B: Current assets/current liabilities C: How much of the total current assets is financed by current liabilities D: Inventory days +receivable days-payable days
- Liabilities are ______. A: money borrowed from banks B: money received from creditors C: "outsider claims", which are economic obligations, debts payable to outsiders D: notes receivable
内容
- 0
In a merger, the acquiring firm assumes all liabilities of the target firm. Assumed liabilities include all but which of the following? A: Current liabilities B: Long-term debt C: Warranty claims D: Fully depreciated operating equipment E: Off-balance sheet liabilities
- 1
which of the following is a characteristic of liabilities rather than of equity A: the obligation matures B: interest paid to the providers of the capital is deductible in the determination of taxable income C: the capital providers' claim are residual in the event of liquidation of the business D: the capital providers normally have the right to exercise control over business operations
- 2
Which of the following statement related to the three elements in a balance sheet is not true? A: Liabilities= Assets + Owners’ equity B: Assets refer to the resources controlled by the firm C: Liabilities refer to the amounts owed to lenders and other creditors D: Owner’s equity refers to the residual interest in the net assets of an entity that remains after deducting its liabilities
- 3
Liabilities are generally classified into( )and ( ).(2分) A: current liabilities、Non-current liabilities B: current assets、long-term assets C: accounting payable、intangible asset D: fixed asset、intangible asset
- 4
Jammer Corporation holds cash of $8,000 and owes $21,000 on accounts payable. Jammer has accounts receivable of $33,000, inventory of $28,000, and land that cost $42,000. How much are Jammer’s total assets and liabilities? A: Total Assets$83,000; Liabilities$49,000 B: Total Assets$69,000; Liabilities$63,000 C: Total Assets$111,000; Liabilities$49,000 D: Total Assets$111,000; Liabilities$21,000