All of the Following Statements Regarding Long-Term Liabilities Are True

question 128

Multiple Choice

All of the following statements regarding long-term liabilities are true except?

• A)Liabilities not expected to be paid within the longer of one year or the company's operating cycle are reported as long-term liabilities.
• B)Long-term liabilities include long-term notes payable,warranty liabilities,lease liabilities,and bonds payable.
• C)Liabilities that do not have a fixed due date,but are payable on demand,are reported as long-term liabilities.
• D)Long-term liabilities can be reported on the balance sheet in a single total or in multiple categories.
• E)A single long-term liability can be divided between current and noncurrent sections on the balance sheet.

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Definitions:

Process Innovation

The act of implementing new or significantly improved production or delivery methods.

Open Innovation

A business model that encourages sharing ideas and innovations with others outside the organization to accelerate development and leverage external expertise.

Extrinsic Motivation

Motivation that stems from the work environment external to the task; it is usually applied by others.

Innovation

The process of creating, developing, and implementing new ideas, products, or methods to improve or replace existing ones.