Testbank, Question 51 One example of a liability that is not a financial liability is 0 notes payable. unearned revenue. bonds payable. financial lease. Testbank, Question 60 The specific identification method of inventory cost formula must be used when goods are not ordinarily interchangeable. when high priced goods are purchased. for goods that are produced and segregated for specific projects, for goods that are produced and segregated for specific projects, and/or when goods are not ordinarily interchangeable. Testbank, Question 68 The carrying amount of an asset is equal to the asset's fair value less its original cost. asset's cost less residual value less accumulated depreciation. asset's cost less residual value. asset's cost less accumulated depreciation