Lecture Accounting: What the numbers mean (10/e): Chapter 7 – Marshall, McManus, Viele
Chapter 7 – Accounting for and presentation of liabilities. After reading this chapter, you should be able to answer the following questions: What is the financial statement presentation of short-term debt and current maturities of long-term debt? What is the difference between interest calculated on a straight basis and on a discount basis? What are unearned revenues and how are they presented in the balance sheet?…
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