Amounts borrowed by a business for a relatively long period of time under a formal written contract or indenture are called _________________.

Which of the following is recorded only when another business enterprise is acquired?

______ is the financial obligation of a company in regards to a loan that accrues with the passage of time.

Which of the following options would NOT be classified as a current liability account?

Which of the following is NOT an account title for liabilities?

On December 26 of Year 1, XYZ Company hired three sales associates to begin work immediately on an after-Christmas sale. The associates were paid on January 9 of Year 2. Disregarding amounts, what entry should have been made on December 31 of Year 1?

XYZ Company reported a balance in Accounts Receivable of $40,500 on January 1 of year 2. During Year 2, the company collected $127,500 from its customers who had purchased on account. On December 31 of Year 2, the company reported a balance in Accounts Receivable of $21,250. How much were XYZ Company's credit sales for Year 2?

At the beginning of the year, XYZ Company reported a $7,200 balance in its Prepaid Insurance account. At year end, the company reported Insurance Expense of $9,000 in its Income Statement and a balance of $3,800 in the Prepaid Insurance account. What was the cost of the additional insurance that was purchased during the year?

It is given that while performing the year end review of inventory, the Inventory had been overstated by 15000 dollars. In order to perform the appropriate adjustments, a certain account was credited. Which of the following accounts could it be?

You are an owner of an education startup. Your startup provides various kinds of services through the use of the single platform. While defining the master budget which of the following are taken into consideration? A. Budgeted income statement B. Budgeted balance sheet C. Budgeted cash flow statement

While adjusting the depreciation of assets in the end of a year you come across a asset worth 10000$ that was bought in june .The asset has a  depreciation of 500$  and the less accumulated depreciation of 3100$.What will the book value for the asset mentioned be after year end adjustments are made to it?