The Reserve for Encumbrances account is properly termed a ()
A: Fixed
liability.
B: Reservation
of fund equity.
C: Budgetary
account.
D: Current
liability if paid within a year; otherwise, long-term debt.
A: Fixed
liability.
B: Reservation
of fund equity.
C: Budgetary
account.
D: Current
liability if paid within a year; otherwise, long-term debt.
举一反三
- 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<br/>balance of an unearned revenue account(): A: Appears<br/>in the balance sheet as a component of owners' equity. B: Appears<br/>in the income statement along with other revenue accounts. C: Appears<br/>in a separate section of the income statement for revenue not yet<br/>earned. D: Appears<br/>in the liability section of the balance sheet.
- Тhе Аllоwаncе fоr Асcоuntіng Rеceivable аccount іѕ а(n) ( ) A: expense account B: liability account C: owner' s equity account D: contra asset account
- Jacob has a bank loan, which is repayable in equal instalments over the next four years.How should this be presented in his statement of financial position? A: As a non-current liability only B: As a current liability only C: As a non-current liability only, but with an explanation in the notes to the accounts that some is expected to be paid within the current year D: Split between current liabilities and non-current liabilities
- Unearned<br/>revenue is a liability and should be reported on the income<br/>statement.(<br/>)