Liabilities Are Classified on the Balance Sheet as Current or

question 119

Multiple Choice

Liabilities are classified on the balance sheet as current or

• A) deferred.
• B) unearned.
• C) long-term.
• D) accrued.

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Definitions:

Financing Activities

Transactions and events that affect the long-term liabilities and equity of a company, including issuing shares, borrowing money, and repaying debt.

Statement Of Cash Flows

A financial report summarizing the total cash inflows and outflows experienced by a corporation.

Operating Activities

Business actions directly related to producing and delivering goods and services, which are reflected in the company's cash flow.

Investing Activities

Financial actions that involve the purchase and sale of long-term assets and other investments not considered to be cash equivalents.