____ 1. Plant rearrangement costs and developmental and improvement costs are frequently reported as land, buildings, and equipment.

____ 2. Any obligation that is due on demand or will become due on demand within one year from the balance sheet date should be classified as current.

____ 3. "Deferred charges such as deferred income tax payable" are typically included in the noncurrent liabilities section of a classified balance sheet.

____ 5. The account form of balance sheet presentation is not allowed under generally accepted accounting principles.

____ 6. Contributed capital has only one type of account, Capital Stock.

____ 7. Treasury stock is normally reported in the investment section of the balance sheet.

____ 8. Retained earnings represents the total amount of undistributed earnings of previous periods.

____ 9. Events that take place during the "subsequent events" period may have an impact upon the balance sheet and the other basic financial statements for the preceding year, but these events cannot affect the amounts reported in the statements.

____ 10. A negative retained earnings balance is reported in the asset section of the balance sheet.

____ 14. Which of the following would not be classified as a current liability on a classified balance sheet?

a.	Unearned revenue.
b.	Deferred income tax liability.
c.	The currently maturing portion of long-term debt.
d.	Accrued salaries payable to management.