Current liabilities are liabilities not due within one year $($or the company's operating cycle if longer$).$

true

false

Question $19$

Unearned revenues are amounts received in advance from customers for future products or services.

true

false

Question $20$

A liability cannot be divided between current and noncurrent liabilities.

true

false

Question $21$

A liability may exist even if there is uncertainty about whom to pay, when to pay, or how much to pay.