Assume that a company has the following situations existing at its year-end:
Required:
Use "yes, " "no, " or "optional" to indicate whether each situation should or should not be classified as a current liability or if accrual is optional.

Question

Assume that a company has the following situations existing at its year-end:
  Required:
Use "yes, " "no, " or "optional" to indicate whether each situation should or should not be classified as a current liability or if accrual is optional.

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The Answer of Assume that a company has the following situations existing at its year-end:
  Required:
Use "yes, " "no, " or "optional" to indicate whether each situation should or should not be classified as a current liability or if accrual is optional.

Assume That a Company Has the Following Situations Existing at Its