Which obligations are classified as current liabilities even if they are due to be settled after more than twelve months from the end of the reporting period? I. Trade payables and accruals for employee and other operating costs that are part of the entity’s working capital II. A portion of long-term interest-bearing liabilities III. Bank overdrafts arising from settlements of purchases of inventory IV. Dividends payable a. I, III, and IV b. I, II, III, and IV c. III only d. I and III

Which obligations are classified as current liabilities even if they are due to be settled after more than twelve months from the end of the reporting period? I. Trade payables and accruals for employee and other operating costs that are part of the entity’s working capital II. A portion of long-term interest-bearing liabilities III. Bank overdrafts arising from settlements of purchases of inventory IV. Dividends payable a. I, III, and IV b. I, II, III, and IV c. III only d. I and III

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 4MCQ

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