Accounting 205-Current Liabilities Are

1. Current Liabilities are _____________________________. (Points : 1) listed before assets on the balance sheetobligations that must be settled within one year or the operating cycle, whichever is longerobligations that must be settled within one year or the operating cycle, whichever is shorternot described by any of these answersQuestion 2. 2. The Unearned Revenue account is used to record ____________________. (Points : 1) purchase orders received from customers loans made to customers so they can purchase products the sale of a product to a customer a deposit received from a customer in advance for a future product or service. Question 3. 3. A contingent liability like a lawsuit is required to be recorded when the probability of an unfavorable outcome is __________________. (Points : 1) probable possible remote anybody’s guessQuestion 4. 4. An employer is required to match certain payroll taxes like ________________. (Points : 1) Unemployment taxes Workers compensation Social secu

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