Use the TELUS Corporation (TELUS) financial statements on My Accounting Lab to answer the following questions: 1.

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Use the TELUS Corporation (TELUS) financial statements on My Accounting Lab to answer the following questions:
1. Give the breakdown of TELUS's current liabilities at December 31, 2013.
2. TELUS has "short-term borrowings." Describe what these obligations are.
3. Did TELUS have any contingent liabilities in 2013? If so, where did you find information about them? Describe these contingent liabilities.
Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Horngrens Accounting

ISBN: 978-0133855371

10th Canadian edition Volume 1

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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