Match Each of the Following Terms Pertaining to Liabilities to Their

question 81

Multiple Choice

Match each of the following terms pertaining to liabilities to their definitions.
-The portion of a long-term liability that will be paid within one year of the balance sheet date.

• A)Current liability
• B)Accounts payable
• C)Notes payable
• D)Discount on notes payable
• E)Current maturities of long-term liabilities
• F)Accrued liabilities
• G)Contingent liability
• H)Estimated liability

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Definitions:

Comprehension

Knowledge or understanding of an object, a situation, an event, or a verbal statement.

Retaining Information

The process of keeping or maintaining knowledge in the memory for a period of time.

Releasing Information

The process of providing or disseminating information to parties who are authorized to receive it.

Knowledge

The information, understanding, and skills that individuals acquire through experience, education, and training.