All of the Following Are Classified as Definitely Determinable Liabilities

question 172

Multiple Choice

All of the following are classified as definitely determinable liabilities except

• A)sales tax payable.
• B)estimated property tax payable.
• C)the current portion of long-term debt.
• D)unearned revenue.

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Definitions:

Inventory Turnover

A measure of how quickly a company sells and replaces its inventory in a given period.

Tax Rate

The percentage at which an individual or corporation is taxed, which can vary based on income level, type of income, or jurisdiction.

Total Debt Ratio

This ratio measures the proportion of a company's total debt to its total assets, indicating the extent of leverage and financial risk.

Total Assets

The sum of all current and non-current assets that a company owns, used in evaluating the company's financial strength.