Question Details

Liabilities are generally classified on a statement of financial position


1.	Liabilities are generally classified on a statement of financial position as
a.	small liabilities and large liabilities.
b.	present liabilities and future liabilities.
c.	tangible liabilities and intangible liabilities.
d.	current liabilities and non-current liabilities.

2.	Which of the following would not be classified a Non-current liability?
a.	Current maturities of long-term debt
b.	Bonds payable
c.	Mortgage payable
d.	Lease liabilities

3.	Which of the following liabilities are not related to the operating cycle?
a.	Wages payable
b.	Accounts payable
c.	Utilities payable
d.	Bonds payable


4.	Intangible assets include each of the following except
a.	copyrights.
b.	goodwill.
c.	land improvements.
d.	patents.


	5.	It is not true that current assets are assets that a company expects to
a.	realize in cash within one year.
b.	sell within one year.
c.	use up within one year.
d.	acquire within one year.




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