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Which would be considered a long-term liability

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Reference no: EM132709949

Problem 1: If the annual rate is 10%, and the interest is compounded quarterly, what is the effective annual rate?

1. 10.00%

2. 10.25%

3. 10.38%

4. 12.00%

5. 12.68%

Problem 2: Which of the following would be considered a long-term liability?

1. A charge account payment

2. An installment loan

3. A mortgage

4. An amount due for taxes

5. The amount due on a credit card

Reference no: EM132709949

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