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ACC 304 Week 8 Quiz 5
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ACC 304 Week 8 Quiz 5

TRUE-FALSE—Conceptual
Answer    No.    Description
        1.    Zero-interest-bearing note payable.
        2.    Dividends in arrears.
        3.    Examples of unearned revenues.
        4.    Reporting discount on Notes Payable.
        5.    Currently maturing long-term debt.
        6.    Excluding short-term debt refinanced.
        7.    Accounting for sales tax collected.
        8.    Accounting for sick pay.
        9.    Social security taxes as liabilities.
        10.    Definition of accumulation rights.
        11.    Recognizing compensated absences expense.
        12.    Accruing estimated loss contingency.
        13.    Disclosing gain contingencies.
        14.    Sales-type warranty profit.
        15.    Fair value of asset retirement obligation.
        16.    Reporting a litigation liability.
        17.    Expense warranty approach.
        18.    Acid-test ratio components.
        19.    Affect on current ratio.
        20.    Reporting current liabilities.


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