A Current Liability Is

question 169

Multiple Choice

A current liability is

• A) additional money, above proceeds from a stock sale, paid directly to a firm by its owners.
• B) the process of distributing the cost of an asset over its useful life.
• C) the amount paid for an existing business above the value of its other assets.
• D) a debt that is not due for at least one year.
• E) a debt that must be paid within the year.

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Definitions:

Oxbow Lakes

Crescent-shaped lakes formed when a river meander is cut off from the main stream.

Cutbank

The steep or vertical bank on the outside bend of a river or stream, eroded by flowing water.

Braided Streams

Networks of river channels that are separated by small, often temporary, islands called braid bars, typically found in environments with high sediment loads.

Cutoff Meanders

These are bends in a river that have been isolated from the main flow due to the river carving a shorter path.