Which of the following statements is true with respect to long-term liabilities?
a. They are obligations that will be satisfied within one year.
b. An account payable is a good example of a long-term liability because it is interest-bearing.
c. Long-term liabilities include bonds, other long-term liabilities and deferred income taxes.
d. Accrued expenses are considered to be long-term liabilities.
c
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Punctuate the sentence correctly. The US House of Representatives was created in 1789
Older workers
A. operate more like free agents. B. prefer having younger supervisors. C. are often willing to work flexible hours. D. learn new behaviors more quickly because of their experience.
Under the provisions of the UCC, in order to hold the drawer liable, an uncertified check must be presented for payment within a maximum of
a. seven days. b. twenty days. c. thirty days. d. sixty days.
The State of Florida enters into a contract with Treasure Salvors governing the salvage of a Spanish galleon that sunk in the 1600s. Under the terms of the contract, the salvagers agree to relinquish 25% of the items recovered to the State of Florida in return for the right to salvage on state lands. At the time the parties enter into the contract, they both believe that the seabed where the ship
lies is state land. Subsequently, the United States Supreme Court holds that the continental shelf on which the ship rests has never been owned by Florida. The salvagers sue to rescind the contract. The contract: A) cannot be rescinded. B) should be avoided because the parties made a mutual mistake. C) should be enforced because, although there is a mutual mistake, it is not material. D) will be enforceable because the United States government will automatically step into the shoes of the State of Florida.