Match Each of the Following Items with the Term or Phrase

question 67

Multiple Choice

Match each of the following items with the term or phrase (a-g) that best describes it. Terms or phrases may be used more than once.
-Measures the "instant" debt-paying ability of a company

• A)Current ratio
• B)Working capital
• C)Quick assets
• D)Quick ratio
• E)Record an accrual and disclose in the notes to the financial statements
• F)Disclose only in notes to financial statements
• G)No disclosure needed in notes to financial statements

Comprehend the objectives of FASB's rules concerning leases.

Recognize the conditions that preclude a lessor from classifying a lease as a sales-type or direct financing lease.

Understand the reporting requirements for Unearned Interest in leases and the rationale behind capital lease accounting.

Understand the components and calculations involved in determining pension expense under GAAP.