Author Question: Identify each of the liabilities listed below using the following code: a. definitely ... (Read 64 times)

jon_i · **on:** Jul 5, 2018

Identify each of the liabilities listed below using the following code:

a. definitely determinable liability
b. estimated liability

_______ 1. purchased merchandise on account
_______ 2. had the employees work all month but won't pay them until next month
_______ 3. owes the bank interest on an outstanding loan
_______ 4. withheld 9,000 from the employees' earnings for payroll taxes
_______ 5. sold 1,000,000 units during the current period and agreed to fix or replace each unit sold if it did not last two years or completely satisfy the customer
_______ 6. borrowed money from a local bank

Question 2

Application documentation that describes the application and contains instructions for preparing inputs and using outputs is a(n):
a. operations run manual
b. user manual
c. program documentation
d. systems documentation