Which of the following is not a characteristic of current liabilities? * 1 point They are due within one year or within the operating cycle, whichever is longer. All three of the above are characteristic of current liabilities. They may be replaced with a new short-term liability rather than being paid in cash. They may involve estimated amounts. The current portion of long-term debt should be reported separately in the 1 point current liabilities section of the balance sheet. * True False 1 point Alt Corp. issues 5,000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, credits are made to: * Common Stock $50,000 and Paid-in Capital in Excess of Par Value $20,000. Common Stock $50,000 and Paid-in Capital in Excess of Stated Value $20,000. Common Stock $70,000. Common Stock $50,000 and Retained Earnings $20,000. A $1,000 bond that sells for 103 has a cost of: * 1 point $1,003 $1,000 $1,300 This is a required