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:

Flex-Time

A flexible work arrangement allowing employees to alter their start and end times, accommodating personal needs and preferences.

Pregnancy Discrimination

Unfair treatment of a woman in the workplace due to her pregnancy, affecting her job security, opportunities, and income.

EEOC

Equal Employment Opportunity Commission, a federal agency that enforces laws against workplace discrimination in the United States.

Annual Leave

Paid time off granted by employers to employees to be used for personal reasons throughout the year.