ACCT 2401 Test 4 Study Guide | Accounting Review, Key Concepts & Practice
Questions
Current Liabilities - ANS ✔✔Known, Estimated, Contingent
Known Liabilities - ANS ✔✔Account Payable
Note Payable
Unearned Revenues
Interest
Taxes
Estimated Liab - ANS ✔✔Warranty
Contigent Liab - ANS ✔✔Comes from a past event, but depends on a future event
Bonds Payable - ANS ✔✔when companies get their money by suing, long term
Term Bond - ANS ✔✔All mature at the same time
Serial Bond - ANS ✔✔Mature at different times
Secured Bonds - ANS ✔✔backed by assets
unsecured bonds - ANS ✔✔aka debentures
only backed up by credit of the issuer
Questions
Current Liabilities - ANS ✔✔Known, Estimated, Contingent
Known Liabilities - ANS ✔✔Account Payable
Note Payable
Unearned Revenues
Interest
Taxes
Estimated Liab - ANS ✔✔Warranty
Contigent Liab - ANS ✔✔Comes from a past event, but depends on a future event
Bonds Payable - ANS ✔✔when companies get their money by suing, long term
Term Bond - ANS ✔✔All mature at the same time
Serial Bond - ANS ✔✔Mature at different times
Secured Bonds - ANS ✔✔backed by assets
unsecured bonds - ANS ✔✔aka debentures
only backed up by credit of the issuer