The two basic forms of long-term liabilities are: Select one: a. Common shares and preferred shares b. Credit cards and operating lines of credit c. Loans and bonds d. Allowance for doubtful accounts and interest payableOn the bond issue date, what effect does the bond issue transaction have on the company's assets, liabilities and shareholders' equity? Select one: a. None of the available choices b. Assets and shareholders' equity increase. Liabilities stay the same. c. Assets and liabilities increase. Shareholders' equity stays the same. d. Liabilities increase and shareholders' equity decreases. Assets stay the same

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Youre absolutely correct The two basic forms of longterm liabilities are c Loans and bonds On the bo... View the full answer