A company\'s financial obligations to sort-term creditors, which must be repaid

Question

A company's financial obligations to sort-term creditors, which must be repaid within one year, are called its: A current assets. B. equity. C. net profit. D. current liabilities. E. accounts payable. includes the owners' contributions to a company along with income earned by the company and retained to finance continued growth and product development. A. Owners' equity B. Owners' assets C. Owners' liabilities D. Revenue E. Profits The financial statement that explains how a firm's cash changed from the beginning of the accounting period to the end is called the: A. statement of cash flows. B. balance sheet. C. income statement. D. master budget. E. profit-loss statement. is best described as a paper money that is not readily convertible to a precious metal such as gold. A. A bitcoin B. A credit card C. A debit card D. Plastic money E. Fiat money Ryan traded his tablet PC for a cellphone. Since both were of the same value, there was no exchange of money. Which of the following concepts docs this scenario illustrate? A. Discounting B. Checking C. Bartering D. Accruing E. Devaluing

Explanation / Answer

1-- D. Current liabilities

2-- A.Owner equity with owner contribution

3-- A. Statement of cash flow and B. Balance sheet

4-- E. Fiat money

5-- C. Bartering

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