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