761 Time: 1 hour Answer All Questions Multiple Choice Questions (4 march each 1. An agreement that obligates the seller er mange turer to get out when damaged is called basse Warranty b) Liability c) Note payable d) None of the above 2. Classification of current and non current is important for the following reasons al Allow external users to access whether the company has the ability to pw.enabling bette financial analysis and decision making b) Internal decision makers can understand which obligations are due so they can plan and take action c Both A and B are true d) None of the above 3. A short term debt from a financial institution is called Capac molekyle? a) Accounts payable b) Current note payable c) Non-current liability d) All of the above 4. Liabile are not expected to be paid within one business cycle of the com a) Current liabilities by Non-current liabilities c) Accounts payable d) None of the above 5. Which of the following is not an example of a current liability? a) Accounts payable bi Unearned revenues c) Lease obligations d) Payroll payable