Which of the following is an example of a current liability? a) Bonds Payable b) Accounts Payable c) Equipment d) Notes Payable (due in 5 years)

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Accounts Payable is an example of a current liability.

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Asked 23 days ago|6/21/2025 9:34:51 AM

Updated 23 days ago|6/21/2025 9:51:57 AM

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alfred123

Accounts Payable is an example of a current liability.

Added 23 days ago|6/21/2025 9:51:47 AM

This answer has been confirmed as correct and helpful.

Greygrey

Accounts Payable is an example of a current liability.

Added 23 days ago|6/21/2025 9:51:57 AM

This answer has been confirmed as correct and helpful.

chapawaks

An example of a current liability is accounts payable.

Added 23 days ago|6/21/2025 9:51:36 AM

This answer has been confirmed as correct and helpful.

Confirmed by alfred123 [6/21/2025 9:51:52 AM]

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Which of the following is NOT a characteristic of accrual accounting? a) Revenues are recognized when earned b) Expenses are recognized when incurred c) Cash flow is the primary focus d) Adjusting entries are made at the end of the period

Weegy: Cash flow is the primary focus is NOT a characteristic of accrual accounting. (More)

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Updated 23 days ago|6/21/2025 9:49:06 AM

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The primary purpose of the trial balance is to: a) Prove the equality of debits and credits b) Prepare the financial statements c) Detect all errors in the ledger d) Summarize all journal entries

Weegy: The primary purpose of the trial balance is to prove the equality of debits and credits. (More)

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Updated 23 days ago|6/21/2025 9:49:33 AM

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The matching principle requires: a) Recognizing expenses when paid b) Recognizing revenues when earned c) Matching expenses with revenues in the same period d) Recording all transactions in the period they occur

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Updated 23 days ago|6/21/2025 9:52:26 AM

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chapawaks

[Deleted]

Added 23 days ago|6/21/2025 9:52:13 AM

Deleted by alfred123 [6/21/2025 9:56:16 AM]

Greygrey

The matching principle requires Matching expenses with revenues in the same period.

Added 23 days ago|6/21/2025 9:52:26 AM

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Which accounting method records revenue when earned and expenses when incurred? a) Cash basis b) Accrual basis c) Modified cash basis d) Tax basis

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Updated 23 days ago|6/21/2025 9:50:40 AM

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alfred123

Accrual basis method records revenue when earned and expenses when incurred.

Added 23 days ago|6/21/2025 9:50:40 AM

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Which of the following accounts would be closed at the end of the accounting period? a) Accounts Payable b) Revenue c) Notes Payable d) Accumulated Depreciation

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Updated 23 days ago|6/21/2025 9:53:00 AM

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chapawaks

An account that would be closed at the end of the accounting period is Revenue.

Added 23 days ago|6/21/2025 9:52:42 AM

This answer has been confirmed as correct and helpful.

Confirmed by alfred123 [6/21/2025 9:53:11 AM]

Greygrey

The account that would be closed at the end of the accounting period is Revenue.

Added 23 days ago|6/21/2025 9:53:00 AM

This answer has been confirmed as correct and helpful.

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