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1. Current liabilities are (Points : 2) due but not receivable for more than one year. due but not payable for more than one year. due and receivable within one year. due and payable within one year....

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1. Current liabilities are (Points : 2)
due but not receivable for more than one year.
due but not payable for more than one year.
due and receivable within one year.
due and payable within one year.


2. What options does a business have when financing operations? (Points : 2)
Debt financing
Equity financing
Asset financing
Both debt financing and equity financing


3. The liability for a dividend is recorded on which of the following dates? (Points : 2)
The date of record
The date of payment
The date of announcement
The date of declaration


4. Payroll taxes levied against employees become liabilities (Points : 2)
the first of the following month.
at the time the liability for the employee's wages is paid.
when earned by the employee.
at the end of an accounting period.


5. Gross earnings for a payroll period less payroll deductions are referred to as (Points : 2)
overtime pay.
bonus pay.
gross pay.
net pay.


6. The primary purpose of a stock split is to (Points : 2)
increase paid-in capital.
reduce the market price of the stock per share.
increase the market price of the stock per share.
increase retained earnings.


7. The par value per share of common stock represents (Points : 2)
the minimum selling price of the stock established by the articles of incorporation.
the minimum amount the stockholder will receive when the corporation is liquidated.
the monetary amount assigned to each share of stock in the articles of incorporation.
the amount of dividends per share to be received each year.


8. Which of the following would most likely be classified as a current liability? (Points : 2)
Two-year notes payable
Bonds payable
Mortgage payable
Unearned rent


9. A corporation has 50,000 shares of $100 par value stock outstanding. If the corporation issues a 4-for-1 stock split, the number of shares outstanding after the split will be (Points : 2)
200,000 shares.
50,000 shares.
250,000 shares.
12,500 shares.


10. Where is interest expense listed on the income statement? (Points : 2)
Other expense section
Cost of merchandise sold
Operating expenses
Interest expense is on the balance sheet, not the income statement.

Answered Same Day Dec 29, 2021

Solution

Robert answered on Dec 29 2021
111 Votes
Cu
ent liabilities are (Points : 2)
due but not receivable for more than one year
due but not payable for more than one year
due and receivable within one year
due and payable within one yea
Cu
ent liabilities are a company's debts or obligations that are due within one year. For
example, short term debt, accounts payable, accrued liabilities and other debts. It is
shown in company's balance sheet on the Liability side.
2. What options does a business have when financing operations? (Points : 2)
Debt financing
Equity financing
Asset financing
oth debt financing and equity financing
A company can finance its operations both by debt financing and equity financing.
Types of Debt financing
Factoring, Trade credit, Bank and credit union loans, Loans from relatives
Types of Equity financing
Self-funding, Family or friends, Angel Investors, Initial public Offerings
3. The liability for a dividend is recorded on which of the following dates? (Points
: 2)
The date of record
The...
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