Current liabilities are normally recorded at the amount expected to be paid rather than at their present

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Current liabilities are normally recorded at the amount expected to be paid rather than at their present value. This practice can be supported by GAAP according to the concept of:

Matching

Consistency

Materiality

Conservatism

Related Book For answer-question

Financial Accounting

ISBN: 978-0078111020

7th Edition

Authors: Libby, Libby, Short

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Posted Date: Jul 11, 2018 08:02 AM

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Current liabilities are normally recorded at the amount expected to be paid rather than at their present

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Financial Accounting

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