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NEW QUESTION: 1
Long-term obligations that are or will become callable by the creditor because of the debtor's violation of a provision of the debt agreement at the balance sheet date should be classified as
A. current liabilities unless it is reasonably possible that the violation will be corrected within the grace period.
B. none of these answers.
C. current liabilities unless the creditor has waived the right to demand repayment for more than 1 year from the balance sheet date.
D. long-term liabilities
E. contingent liabilities until the violation is corrected.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Current liabilities include obligations that must be liquidated within 1 year as well as obligations that are or will be callable by the creditor within 1 year because of a violation of a debt covenant. An exception exists, however, if the creditor has waived or subsequently lost the right to demand repayment for more than 1 year from the balance sheet date.
NEW QUESTION: 2
What are the appropriate names for devices in a Open Replicator migration?
A. Gatekeeper, Target
B. R1, R2
C. Control, Remote
D. Source, Target
Answer: C
NEW QUESTION: 3
A manufacturing company updates a policy that instructs employees not to enter a secure area in groups and requires each employee to swipe their badge to enter the area When employees continue to ignore the policy, a mantrap is installed. Which of the following BEST describe the controls that were implemented to address this issue? (Select TWO).
A. Corrective
B. Deterrent
C. Administrative
D. Physical
E. Detective
Answer: A,B
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