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NEW QUESTION: 1
On December 31, Year 1, XYZ led 5-year bonds with a face amount of US $1 million.
The bonds carry a stated interest rate of 10% and were sold at par. Interest is payable annually on December 31 According to the provisions of the bond denture, XYZ was to make annual deposits into a bond sinking fund (beginning December 31, Year 2) to accumulate the funds necessary to retire the bonds at their maturity. On December 31 Year 5, all required interest payments and sinking-fund payments due to date had been made on schedule. If the sinking-fund assets are properly classified as noncurrent. How should the balance of bonds payable be classified on the December 31 Year 5 balance sheet?
A. Contra to long-term investments.
B. Current liability
C. Long-term liability.
D. Deferred credit.
Answer: B
Explanation:
A current liability is an obligation on that is expected to be settled within the normal operating cycle or is due to be settled within1 2 months of the balance sheet date. Any other liability is noncurrent. Some current liabilities are included in the working capital employed in the normal operating e.g., trade payables and accrued employee operating costs. Current liabilities not settled within the normal operating cycle include the current part of interest-bearing debt, dividends, income taxes, and bank overdrafts. Thus, the bends payable should be classified as current because they are due to be settled within 12 months. Under the Standards, the classification of the sinking-fund assets is irrelevant to the classification of the bond payable.

NEW QUESTION: 2
Batteries in the same battery string must have the same capacity, same specifications and the same manufacturer.
A. FALSE
B. TRUE
Answer: B

NEW QUESTION: 3
A company implements Dynamics 365 for Finance and Operations and uses Lifecycle Services (LCS). The company uses both standard and customized functionality.
Testers have reported problems using the recent User Acceptance Testing (UAT) round.
You need to resolve these issues before UAT can proceed.
Which tools should you use? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.

Answer:
Explanation:

Explanation