ACC 304 help A Guide to career/Snaptutorial ACC 304 help A Guide to career/Snaptutorial | Page 139

Week 9 Quiz 5: Chapter 13, Quiz 6: Chapter 14
CURRENT LIABILITIES AND CONTINGENCIES
IFRS questions are available at the end of this chapter.
TRUE-FALSE—Conceptual
1. A zero-interest-bearing note payable that is issued at a discount
will not result in any interest expense being recognized.
2. Dividends in arrears on cumulative preferred stock should be
recorded as a current liability.