true or false

Improper classification and reporting of a current liability as long-term can mislead decision makers

Sales Tax Payable is the liability account used to record a seller's Sales Tax Expense not yet remitted to the government.

A debt guarantee can lead to a potential contingent liability.

An increase in the times interest earned ratio from 4.5 to 7.5 in light of income that is stable from year to year would be viewed favorably by analysts.

When the end of an accounting period occurs between the signing of a note payable and its maturity date, the revenue recognition principle requires an adjusting entry to record the accrued interest on the note.