answer true or false. please write out the complete word TRUE OR FALSE. Liabilities that occur spontaneously every month to pay for purchases and other operating expenses and which will be paid within...

answer true or false. please write out the complete word TRUE OR FALSE.

1. Liabilities that occur spontaneously every month to pay for purchases and other operating expenses and which  will be paid within a year are known as current liabilities______________________.


2. A contingency should be recorded in the accounting records if the loss is probable, and the cost can be estimated ____________________________.


3. A lease preserves cash for the company and allows the company to continuously have the latest technology __________________________.


4. Corporations are legal entities separate from their owners and offer the advantage of limited liability to the shareholders__________________________.