Amounts to be received later from customers for shipment of products or services in the existing period
is a composed promise to pay a mentioned amount on a definite future date within one year or the company"s operating cycle, whichever is longer.

You are watching: All of the following statements regarding long-term liabilities are true except?


Obligations not expected to be passist within the much longer of one year or the company"s operating cycle are reported as:
A agency sold $12,000 worth of bicycles with a prolonged warranty. It estimates that 2% of these sales will certainly lead to warranty occupational. The firm should:
The distinction in between the amount got from issuing a note payable and also the amount repassist at maturity is described as:
The price that a state asindicators reflecting a company"s stability or instability in employing employees is the:
not contingent liabilities because they are future occasions not arising from previous transactions or occasions.
A temporary note payable is a created promise to pay a mentioned amount on a definite future day within one year or the operating cycle, whichever before is shorter.

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liabilities that execute not have actually a solved due date, yet are payable on demand also, are reported as long-term liabilities.
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Corpoprice Finance (The Mcgraw-Hill/Irwin Series in Finance, Insurance, and Real Estate)11th EditionBradford D. Jordan, Randolph W. Westerfield, Stephen A. Ross
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