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Income taxes payable is a current liability. (Points : 5) True False
TRUE. Income taxes payable is a current liability.
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Expert answered|jeifunk|Points 19889|
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Asked 4/5/2014 7:03:57 PM
Updated 4/5/2014 8:55:54 PM
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This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [4/5/2014 8:55:54 PM]
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Purchase discounts decrease the total cost of merchandise acquired. (Points : 5) True False
Question
Not Answered
Updated 3/31/2014 6:50:08 AM
1 Answer/Comment
Purchase discounts decrease the total cost of merchandise acquired. True.
Added 3/31/2014 6:50:08 AM
This answer has been confirmed as correct and helpful.
Because plant and equipment are reported as long-term assets on the balance sheet, they have no impact on net income for the period until they are sold. (Points : 5) True False
Weegy: Because plant and equipment are reported as long-term assets on the balance sheet, they have no impact on net income for the period until they are sold. [ This is FALSE. ] (More)
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Expert Answered
Updated 4/5/2014 7:02:42 PM
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