Of the following which typically would be classified as a cu

Of the following, which typically would be classified as a current liability? Select one: O A. A six-month bank loan to be refinanced into a 3-year loan. OB. A long-term note payable not maturing within the coming year. C. Estimated llability for utility expenses. D. Rent revenue received 18 months in advance.

Solution

Solution 1:

Estimated liability of utility expenses would be classified as a current liability.

Hence option C is correct.

Solution 2:

When share of stock are sold from one investor to another they will be traded at \"market value\"

Hence option B is correct.

Solution 3:

Secured bonds have \"Specific assets of issuing company\'s stockholders pledged as collateral\"

Hence option E is correct,

Solution 4:

Short term notes payable can be used to replace an accounts payable.

Hence option D is correct.

Solution 5:

The statement of changes in stockholder\'s equity:

1. Describes changes in paid in capital and retained earning sub categories

2. Is reported by all public companies

3. Includes changes in treasury stock

4. Often contain statement of retained earnings

Hence all the above statements are true. Hence option E is correct.