1.) Which one of the following is not true about long term debt? A. Long term debt...
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Question:
1.) Which one of the following is not true about long term debt? | ||||
A. Long term debt must have a maturity date | ||||
B. Long term debt is secured | ||||
C. Long term debt attracts Interest | ||||
D. The lenders have some control of the business |
2.) Which one of the following statements is true about deferred tax liability? | ||||
A. It is a current liability | ||||
B. Deferred tax is as a result of expected future obligations | ||||
C. Deferred tax is a long-term obligation | ||||
D. Deferred tax is not a mandatory obligation |
3. Differentiate between each of the following types of liabilities: | |||||
A. Deferred Tax and Current tax. | |||||
B. Debentures and Bonds. | |||||
C. Provisions and contingent liabilities. | |||||
D. Accruals and unearned revenues. |
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