a 51.Bond discounts must be amortized using the straight-line method. a 52.Payroll liabilities are reported on the statement of financial position as current liabilities. a 53.Every...

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51.Bond discounts must be amortized using the straight-line method.

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52.Payroll liabilities are reported on the statement of financial position as current liabilities.

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53.Every employer incurs liabilities relating to employees' salaries and wages.

54. A debt that is expected to be paid within one year through the creation of long-term debt is a current liability.

55. Notes payable usually are issued to meet long-term financing needs.

56. Current maturities of long-term debt are often identified as long-term debt due within one year on the statement of financial position.

57. Bonds that mature at a single specified future date are called term bonds.

58. The terms of the bond issue are set forth in a formal legal document called a bond indenture.

59. The carrying value of bonds at maturity should be equal to the face value of the bonds.

60. Non-current liabilities are reported in a separate section of the statement of financial position immediately before current liabilities.

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