Problem $8-1$A $($Static$)$ Review current liability terms and concepts $($LO$8-1)$

Select the most appropriate item from the dropdown to match each of the following terms and phrases associated with current liabilities.

$\backslash$table$[[1.$ An IOU promising to repay the amount borrowed plus interest.$],[2.$ Payment amount is reasonably possible and is reasonably estimable.$],[3.$ Mixture of liabilities and equity a business uses.$],[4.$ Payment amount is probable and is reasonably estimable.$],[5.$ A liability that requires the sacrifice of something other than cash.$],[6.$ Long$-$term debt maturing within one year.$],[7.$ FICA and FUTA.$],[8.$ Informal agreement that permits a company to borrow up to a prearranged limit$.],[9.$ Classifying liabilities as either current or long$-$term helps investors and creditors assess this.$],[10.$ Amount of note payable $$ annual interest rate $$ fraction of the year.$]]$