Question 10 (1 point) When a deposit on returnable containers is forfeited, the firm holding the deposit will experience: A decrease in cost of goods sold. An increase in current liabilities. An increase in accounts receivable. An increase in revenue. Question 11(1 point) A company should accrue a loss contingency only if the likelihood that a liability has been incurred is: 15 More likely than not and the amount of the loss is known At least reasonably possible and the amount of the loss is known. At least reasonably possible and the amount of the loss can be reasonably estimated. Probable and the amount of the loss can be reasonably estimated. Question 12 (1 point) Branch Company, a building materials supplier, has $18,000,000 of notes payable due April 12, 2019. At December 31, 2018, Branch signed an agreement with First Bank to borrow up to $18,000,000 to refinance the notes on a long-term basis. The agreement specified that borrowings would not exceed 75% of the value of the collateral that Branch provided. At the date of issue of the December 31, 2018, financial statements, the value of Branch's collateral was $20.000.000. On its December 31, 2018. balance sheet, Branch should classify the notes as follows: $15,000,000 long-term and $3,000,000 current liabilities. $4.500.000 short-term and $13,500,000 current liabilities. $18,000,000 of current liabilities. $18,000,000 of long-term liabilities