ABC Company borrows $15,000 from a local bank for six months at 9% annual interest.Which statement below is TRUE?
A) It is a definitely determinable liability.
B) It is a long-term liability.
C) It is an estimated liability.
D) Interest expense of $225 will be recorded each month the loan is outstanding.
Correct Answer:
Verified
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Q5: Current liabilities are liabilities that _.
A)must be
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Q8: Definitely determinable liabilities are _.
A)obligations of an
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Q11: In December 2011,Homer Simpson worked for Springfield
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