The equation form of long-term liabilities

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1. Which of the following is the equation form of long-term liabilities?

cash + marketable securities + accounts receivable + prepaid expenses + inventory

cash + marketable securities + accounts receivable - prepaid expenses + inventory

investments + fixed assets - accumulated depreciation + intangible assets

notes payable + accounts payable + other items payable + dividends payable + the current portion of long-term debt

long-term debt + pension fund liabilities + long-term lease obligations

2. Which of the following is a drawback of using an accrual accounting system?

It greatly reduces the demand on bookkeeping.

It is only appropriate for cash-based businesses.

It may be misleading with respect to understanding a company's actual cash position.

It can be used to affect tax bills.

3. Which of the following SBA loan programs has a rapid turnaround time to support export-based activities and can provide for funds up to $500,000 worth of financing?

Export Working Capital Program

Special-purpose loans program

Community express program

Patriot express loan program

Export express program

4. Which of the following is an indirect factor that effects the selection of form adopted for a business?

Tax issues

Expected profits or losses

Vulnerability and threat from lawsuits

Relationship that the owner would have with partners or investors

Ability to extract profits from the business for the owner's use

Reference no: EM132249757

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