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JulsSmile [24]
3 years ago
15

Which of the following is a condition necessary to exclude an obligation from current liabilities? Entry field with incorrect an

swer Subsequently refinance the obligation on a long-term basis. Intend to refinance the obligation on a long-term basis. Demonstrate the ability to complete the refinancing. Obligation that has a distant due date exceeding company's operating cycle.
Business
1 answer:
lutik1710 [3]3 years ago
7 0

Answer:

The answer is: Obligation that has a distant due date exceeding company's operating cycle.  

Explanation:

A current liability is a financial obligation due within one year (or one normal operation cycle).

So a financial obligation that has a due date that exceeds a company´s operating cycle should have been directly classified as a long term liability (or a non current liability) in the first place. It simply is not a current liability that is changed into a long term liability, it always was a long term liability.

The other options represent the steps necessary for turning a current liability into a long term liability.

  1. Intend to refinance the obligation on a long-term basis.
  2. Demonstrate the ability to complete the refinancing.
  3. Subsequently refinance the obligation on a long-term basis.

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Jamal has been tasked with putting together a new team for a new Starbucks project line. As Jamal thinks through the components
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Answer:

C. team composition

Explanation:

Team composition -

It is the overall combination of the people with different characteristics in a team ,  where the people interact in order to attain a common goal , is known as team composition .

The team could have homogeneous or heterogeneous members .

hence , from the question information , Jamal is concerned with the team composition .

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Instructing your broker to buy or sell a stock at a particular price is a:
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Trading or Marketing guides/instructions
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John is an art dealer with special expertise in modern art. Rachel comes to John's gallery to purchase a modern art painting as
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Answer:

Puffery

Explanation:

Puffery refers to making hefty claims regarding product attributes and traits which represent a subjective and not objective view. Such claims are not backed by valid reasoning or valid evidences and facts.

In the given case, the art dealer claims his products being of high quality and appreciating over the period of next ten years. Such claims cannot be substantiated by any concrete evidence. As value cannot be ascertained in advance.

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3 years ago
Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2021. LPC's accountant has projected the following amortization sch
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Answer:

c. 7%

Explanation:

According to the given scenario, the computation of the annual stated interest rate on the bonds is shown below:-

Sated interest Rate = Cash interest ÷ Face Value of the bond × 2

= $7,000÷ $200,000 × 2

= 7%

Therefore for computing the annual stated interest rate on the bonds we simply applied the above formula. hence the correct option is c

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3 years ago
Graham, Inc.'s April bank statement shows an April 30 balance of $5,120. Prior to reconciliation, its books show a cash balance
Mars2501 [29]

Answer:

$5,570

Explanation:

The purpose of a bank reconciliation statement is to reconcile the difference between Cash Book balance and Bank Statement balance. Also it is used to check accuracy of Cash Book and the accuracy of Bank Statement.

Graham, Inc.'s April bank reconciliation statement is prepared as :

Graham, Inc.

Bank reconciliation statement as at April 30

Balance as per Bank Statement                 $5,120

Add outstanding lodgments                         $800

Add back error at the bank                            $115

Less unpresented checks                           ($465)

Balance as per Cash Book                        $5,570

therefore,

The reconciled cash balance at April 30 on the bank reconciliation should be $5,570.

4 0
3 years ago
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