Other forms of current liabilities

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4 Terms

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<p>How will the painting business purchase so much paint without opening a line of credit?</p><ul><li><p>Depend on cash on hand</p></li><li><p>Get a bank loan</p></li><li><p>Take out a second mortage</p></li><li><p>Ask for payment up-front</p></li></ul>

How will the painting business purchase so much paint without opening a line of credit?

  • Depend on cash on hand

  • Get a bank loan

  • Take out a second mortage

  • Ask for payment up-front

Ask for payment up-front

<p>Ask for payment up-front</p>
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What are key points about deferred revenue to remember?

Select all that apply.

  • Deferred revenue functions just like cash

  • Deferred revenue should not be spent like cash

  • Deferred revenue supports the funding of business expenses

  • Deferred revenue and cash flow are separate things

Deferred revenue should not be spent like cash

Deferred revenue supports the funding of business expenses

Deferred revenue and cash flow are separate things

<p>Deferred revenue should not be spent like cash</p><p>Deferred revenue supports the funding of business expenses</p><p>Deferred revenue and cash flow are separate things</p>
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cash payments

payments for goods and services

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deferred revneue

Revenue that is paid to the business for work not yet performed, recorded in books as liability