Which of the following is an example of a long-term liability?
FABM 2 - Quarterly Review (EASY ROUND)

Quiz
•
Business
•
12th Grade
•
Medium
Joanne Marie Biso
Used 6+ times
FREE Resource
35 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Accounts Payable
Unearned Revenue
Principal of a Bonds Payable
Notes Payable
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
“Income Tax Payments” falls under
Operating Activities
Investing Activities
Financing Activities
Non-operating Activities
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
“Inventory” is considered a
Current Asset
Noncurrent Asset
Current Liability
Noncurrent Liability
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is NOT an element of Statement of Comprehensive Income?
Noncurrent Assets
Revenue
Expenses
Net Income
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is typically listed as a current asset on a statement of financial position?
Equipment
Land
Accounts Receivable
Long-term debt
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Solvency refers to
The ability to generate high profits
The ability to meet short-term financial obligations as they become due
The total assets owned by a person or business
The ability to generate cash flow
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
“PPE” is considered a
Current Asset
Noncurrent Asset
Current Liability
Noncurrent Liability
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