Classify each of the following as a financial liability, an operating liability, or neither:a....

Question

Classify each of the following as a financial liability, an operating liability, or neither:
a. Accrued compensation.
b. Deferred revenues.
c. Preferred stock.
d. Deferred tax liability.
e. Lease obligations.
f. Interest-bearing note payable.

Robert · Accepted Answer

Classify each of the following as a financial liability, an operating liability, or 
neither: 
a. Accrued compensation. 
Operating liability because it doesn’t arise due to contractual obligations 
b. Deferred revenues.

Classify each of the following as a financial liability, an operating liability, or neither: a. Accrued compensation. b. Deferred revenues. c. Preferred stock. d. Deferred tax liability. e. Lease...

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