Which of the Following Is a Characteristic of a Current

question 203

Multiple Choice

Which of the following is a characteristic of a current liability?

• A) It creates a present obligation for future payment of cash or services.
• B) It cannot be settled with services.
• C) It is an avoidable obligation.
• D) It occurs because of a future transaction or event.

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Definitions:

Strike-Slip Fault

A fault in which the relative movement is essentially horizontal, parallel to the strike of the fault surface.

Normal Fault

A fault in which the hanging wall moves down relative to the footwall.

Reverse Fault

A fault in which the hanging wall moves up relative to the footwall.

Joint

A fracture in a rock where the rock has been pulled apart slightly without significant displacement parallel to the fracture.