Payables & Accrued Liabilities Flashcards
1
Q
What would short-term debt refinanced be categorized as on the balance sheet?
A
The short-term debt that is expected to be refinanced and is supported by documentation is classified as a long-term debt.
2
Q
What amount should be recognized as an accrued liability in a deferred compensation agreement if all or part of future benefits is for more than one year of service?
A
It should be spread out and recognizes over the required service.
