Answer: current liability for any portion due within one year
Explanation:
Notes payable are referred to as the written agreements whereby one party agrees to pay the other party a certain amount of money.
It should be noted that on the balance sheet, notes payable will appear as liabilities. In a situation when the amount is due within a year, then it's considered to be current liabilities while it's regarded as a long-term liability when it's more than a year,
It should be noted that a five-year note payable would appear on the balance sheet as current liability for any portion due within one year.
In order to effectively tackle this problem, Blue Dragon Inc. should vary its management processes and practices to account for these differences. By varying these processes and practices they are applying the best of both cultures into their company, thus allowing the companies in each country to better understand how the other one functions. This will drastically increase communication and cooperation between these two international company's.
Permanent earnings are regular or constant earning, which can be expected to continue in the future. It is income earned from everyday business transactions. Permanent earnings contrast transitory earning.
Transitory are non- recurring earnings. It is not definite that they will continue in the future.
For this company, transitory transactions will be gain on the sale of land at $30,000
Permanent earnings will be sales revenues minus expenses
When something involves activities of management is called managerial.<em> In the example given this is the nature of the behavior because Arie is organizing and directing the corporation in order to optimize and be efficient.</em>
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Financial Accounting Standards Board (FASB) is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles within the United States in the public's interest
