Answer:
A. Current liability
1. 60-day promissory note.
2. Salaries payable.
3. FICA taxes payable.
4. Income taxes payable.
5. Accounts payable.
B. Long-term liability
1. Note payable due in full in two years.
C. Not a liability
1. Payment of a 4-year term loan due this year.
2. Payment of a 30-year term loan due this year.
Explanation:
Current liability refers to a short-term liability that is that is due for a payment within a year.
Long-term liability refers to a liability that is that is due for a payment more than one year in the future.
Not a liability - This implies that a liability is no longer a liability the moment a payment is made for it or the moment it is paid.
Based on the above, we therefore have:
A. Current liability
1. 60-day promissory note.
2. Salaries payable.
3. FICA taxes payable.
4. Income taxes payable.
5. Accounts payable.
B. Long-term liability
1. Note payable due in full in two years.
C. Not a liability
1. Payment of a 4-year term loan due this year.
2. Payment of a 30-year term loan due this year.
Answer: Option A
Explanation: In simple words, licensing refers to an official permit or authorization to do, use, or own something . A license may be given as a component of an agreement between certain groups by a party to some other party. A short-term license definition is "permission to use licensed content.
In general, regulators can issue a license to permit an operation that would otherwise be prohibited. It may involve a charge to be charged or a skill to be proven.
The provision may also serve to protect the authorities aware of a type of activity and provide them with the opportunity to establish terms and restrictions.
A student who is checking account will be classified as a Basic type of account according to the agreement
Explanation:
There are many types of account checking and they are classified into different types in this case a student who is checking a account according to the agreement is classified as basic
The other different types of account checking is the special premium and the premier and they have various different types of functions according to that they work
Answer:
Increasing price level in the United States relative to Mexico.
Explanation:
When the price level of a country increases, the goods it produces become more expensive to foreign consumers. This will decrease the demand for domestic goods from foreign buyers, which will result in a depreciation of the domestic currency against foreign currencies.
In this case, if the price level in the US increases, the US dollar will depreciate against the Mexican peso.