Which one of the following statement is CORRECT about long term liabilities?

A These are due within one year
B These consist of all debts, payabke after 12 months
C In working capital, these are deducted from current assets
D All of the above

Correct Answer: These consist of all debts, payabke after 12 months

Long term liabilities consist of all debts, payabke after 12 months. Long-term liabilities are obligations not due within the next 12 months or within the company's operating cycle if it is longer than one year.
Bissoy MCQ
#Commerce #Accounting

Related Questions

______ are the liabilities which are payable after a long period
A Fixed liabilities
B Miscellaneous expenditure
C Current liabilities
D Contingent liabilities
---- নীতি অনুসরণ করার কারণে আমরা সম্ভাব্য দায়কে আর্থিক বিবরণীতে প্রদর্শন করে থাকি। (Contingent liabilities are shown in the body of financial statement because we follow the principle of----)
A ব্যবসায়িক স্বত্ত্বের (Business Entity)
B হিসাবকালের (Periodicity)
C পূর্ণ প্রকাশের (Full-disclosure)
D মিলকরণের (Matching)
Liabilities are which of the following?
A Resources
B Obligations
C Future benefits
D Expenses
The records of Everyday Electronics Corporations include the following : Average total assets - TK. 7,60,000 Average total liabilities - Tk. 4,85,000 Total revenue - Tk. 2,00,500 Total expense(including income tax) - Tk. 1,35,000 The return on equity is (round to the nearest percent) :
A 13%
B 6%
C 25%
D 8%
A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities.
A Sole proprietorship
B Entrepreneurship
C Partnership
D Corporation
Risk which arises all activities from contingent liabilities and assets is considered as
A off balance sheet risk
B income statement risk
C balance of trade risk
D balance of payment risk
Type of partnership in which liabilities are limited for business owners is classified as
A unlimited partnership
B limited partnership
C joint corporate
D joint venture
Risk of financial institutions which states mismatching assets maturities and liabilities maturities is classified as
A selling intermediation
B maturity intermediation
C direct intermediation
D indirect intermediation
Type of risk in which value of liabilities and assets is affected by exchange rate is classified as
A economic rates
B foreign exchange risk
C selling rate
D buying rates
Position which came in to existence because of holding assets less than liabilities is considered as
A net surplus in assets
B net surplus in liabilities
C net long in currency
D net short in currency

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