146. Listed below are several terms and phrases associated with current liabilities. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it. ...

List A

List B

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1. Cash, short-term investments, and accounts receivable all divided by current liabilities.

a. Recording a contingent liability

b. Disclosure of a contingent liability

c. Interest expense

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2. Loss is probable and can be reasonably estimated.

d. FICA

e. Commercial paper

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3. Gift cards.

f. The riskiness of a business’s obligations

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4. Long-term debt maturing within one year.

g. Current portion of long-term debt

h. Unearned revenues

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5. Social Security and Medicare.

i. Acid-test ratio

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6. Interest expense is recorded in the period interest is incurred rather than in the period interest is paid.

j. Accrual accounting

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7. Loss is reasonably possible and can be reasonably estimated.

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8. Incurred on a notes payable.

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9. Unsecured notes sold in minimum denominations of $25,000 with maturities up to 270 days.

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10.Classifying liabilities as either current or long-term helps investors and creditors assess this.