Land.

Patents.

Bonds payable.

Which of the following is not a typical current liability?

Accounts payable

Wages payable

Interest payable

Pension liabilities

Taxes payable

Which of the following is a current liability?

Unearned rent income

Prepaid interest

Land

Common stock

None of the above.

m$.$ Treasury stock is best classified as a

Current liability.

Current asset.

Reduction of stockholders' equity.

Contra asset.

Contra liability.

n$.$ Considering IFRSs, which of the following statements would be considered false?

IFRSs do not require a standard format for the balance sheet.

With IFRSs, usually nonconcurrent assets are presented first, followed by current :

Under IFRS for liabilities and owners' equity, capital and listed reserves are usu listed first, then noncurrent liabilities, and then current liabilities last.

The reserves section of capital and reserves would not be part of U$.$S$.$ GAAP.

All of these items would be considered to be true.

o$.$ Considering IFRSs, which of the following statements would be considered false?

When using IFRSs, local laws or securities regulations may specify disclosures i addition to those required by IFRSs.

IAS introduced a number of terminology changes. The new titles for the financis statements are not mandatory.

The IFRS model consolidated balance sheet, as presented by Deloitte Touche, p an emphasis on liquidity.

Under IFRS, noncontrolling interests are usually presented as the last item in total eq

None of these statements would be considered false.

P $3-14$ The following information was obtained from the accounts of Airlines Internati dated December $31,2012.$ It is presented in alphabetical order.

Accounts payable

Accounts receivable

Accrued expenses

$$77,916$

Accumulated depreciation

Allowance for doubtful accounts $67,551$

Capital in excess of par

$23,952$

Cash

$220,541$

shares, issued $14,304,$ authorized $20,000$

$72,913$

$28,837$

$7,152$