All of the following are typically classified as current liabilities except:

A) Unearned Revenues B) Returnable deposits C)undistributed stock dividends D) current maturities of long term debt

A company can exclude a short-term obligation from current liabilities if it:

pays off the obligation after the balance sheet date and subsequently replaces it with long-term debt before the balance sheet is issued.

demonstrates an ability to consummate the refinancing.

intends to refinance the obligation on a long-term basis and demonstrates an ability to consummate the refinancing.

intends to refinance the obligation on a long-term basis.

Which of the following is not one of the requirements for accruing the cost of compensated absences?

All of these are the requirements for accruing the cost of compensated absences.

Payment of the compensation is probable.

The obligation relates to rights that vest or accumulate.

The employees services must have already been rendered.