Question Details

Stock dividends distributable should be classified 



1.	Which of the following may be a current liability?
a.	Withheld Income Taxes
b.	Deposits Received from Customers
c.	Deferred Revenue
d.	All of these answers are correct.

	2.	Which of the following items is a current liability?
a.	Bonds (for which there is an adequate sinking fund properly classified as a long-term investment) due in three months.
b.	Bonds due in three years.
c.	Bonds (for which there is an adequate appropriation of retained earnings) due in eleven months.
d.	Bonds to be refunded when due in eight months, there being no doubt about the marketability of the refunding issue.
	3.	Which of the following should not be included in the current liabilities section of the balance sheet?
a.	Trade notes payable
b.	Short-term zero-interest-bearing notes payable
c.	The discount on short-term notes payable
d.	All of these answers are correct.

	4.	Which of the following is a current liability?
a.	Preferred dividends in arrears
b.	A dividend payable in the form of additional shares of stock
c.	A cash dividend payable to preferred stockholders
d.	All of these answers are correct.

	5.	Stock dividends distributable should be classified on the
a.	income statement as an expense.
b.	balance sheet as an asset.
c.	balance sheet as a liability.
d.	balance sheet as an item of stockholders' equity.





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