Accounting Question

Complete three accounting exercises related to liabilities and equity using a provided worksheet.

Information about liabilities is most useful when the balance sheet identifies them as either current or long-term. Managers need to know when obligations are due so they can plan for them and take appropriate action. This is the essence of classifying liabilities.

This assessment consists of three accounting exercises. The exercises are provided in the Accounting for Liabilities and Equity Worksheet, linked in Resources under the Required Resources heading. Use this worksheet to record and submit your solutions for Exercises 4-1, 4-2, and 4-3.

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