Please refer to the sample and paraphrase the ''liabilities, current'' and ''account payable''. Changing the company name to Newmont Corporation. Please write a close word count to the sample. Liabilities, current- Current liabilities are short-term financial obligations that are paid off withinone year or one current operating cycle, whichever is longer. Typical current liabilities includesuch accrued expenses as wages, taxes, and interest payments not yet paid; accounts payable,short-term notes, cash dividends and revenues collected in advance of actual delivery of goods orservices.sampleAccounts Payable- An accounting entry that represents an entity's obligations to pay off a short-term debt to its creditors. The accounts payable entry is found on a balance sheet under theheading current liabilities. Payment of accounts payable and income taxes payable are expectedto be and remain our principal recurring use of cash and working capital funds.

Liabilities, current: Current liabilities represent the obligation of the company that is required…

Answered: ''liabilities, current'' and ''account…

Business

Accounting

''liabilities, current'' and ''account payable'

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Activities Required In Completing A Quality Audit

Section: Chapter Questions

Problem 65RSCQ

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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Please refer to the sample and paraphrase the ''liabilities, current'' and ''account payable''. Changing the company name to Newmont Corporation. Please write a close word count to the sample.

Liabilities, current- Current liabilities are short-term financial obligations that are paid off within
one year or one current operating cycle, whichever is longer. Typical current liabilities include
such accrued expenses as wages, taxes, and interest payments not yet paid; accounts payable,
short-term notes, cash dividends and revenues collected in advance of actual delivery of goods or
services.
sample
Accounts Payable- An accounting entry that represents an entity's obligations to pay off a short-
term debt to its creditors. The accounts payable entry is found on a balance sheet under the
heading current liabilities. Payment of accounts payable and income taxes payable are expected
to be and remain our principal recurring use of cash and working capital funds.

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