Solution-Which is not a characteristic of long-term

Which is not a characteristic of long-term liability

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Reference no: EM132753209

Problem 1: Which of the following is NOT a characteristic of long-term (LT) liability.

Group of answer choices

Option 1: LT liability requires probable future sacrifices of economic benefits

Option 2: To payoff long-term liability, companies can issue a short-term liability or use current assets.

Option 3: LT liability represents obligations associated with present economic events

Option 4: Usually the BODs and stockholders approve the issuance of LT debt.

Reference no: EM132753209

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Which is not a characteristic of long-term liability

Reference no: EM132753209

Reference no: EM132753209

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