153
Chapter 4
Current Liabilities
Assessment Questions
AS-1 (
1
)
What are current liabilities?
AS-2 (
1
)
How are non-current liabilities different from current liabilities?
learning outcomes
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❶
Define and differentiate between
determinable and non-determinable
liabilities
∑
Record accounts payable
∏
Record payroll liabilities
π
Record transactions with sales tax
∫
Record unearned revenue
ª
Record short-term notes payable
º
Record transactions related to the current
portion of non-current liabilities
Ω
Record estimated liabilities
æ
Apply controls relating to current liabilities
