Reference no: EM133000946
Problem 1: The following are examples of Liability accounts on the Balance Sheet, with the exception of:
Option 1: Debts to pay
Option 2: Prepaid insurance
Option 3: Notes to Pay
Option 4: Unearned income
Problem 2: The order in which the subgroups of the Liabilities accounts are presented on the Balance Sheet is:
Option 1: Current liabilities, long-term liabilities
Option 2: Intangible liabilities, current liabilities, long-term liabilities
Option 3: Current liabilities, prepaid liabilities, unearned liabilities, long-term liabilities
Option 4: Owners' liabilities, intangible liabilities, long-term liabilities
Option 5: Long-term liabilities, current liabilities