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Which statements about current liabilities is true

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Reference no: EM132674250

Problem 1) If interest is compounded annually, the total amount of interest on an $18,000 note payable for four years at 10% is

a. $8,500.
b. $8,352.
c. $5,706.
d. $7,200.

Problem 2) Which of the following statements about current liabilities is true?

a. The current ratio is defined as current assets divided by current liabilities.
b. The amount of current liabilities has little implication for a company's liquidity.
c. The Current Liabilities section never contains any portion of long-term liabilities.
d. Current liabilities are listed in order of decreasing amounts in the Current Liabilities section of the balance sheet.

Reference no: EM132674250

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