Under U. S. GAAP, liabilities payable within one year can be excluded from current liabilities only if: Multiple Choice The business intends to refinance the obligations on a long-term basis. The business has the demonstrated ability to refinance the obligations on a long-term basis. The business has the intent and the ability to refinance the obligation on a long-term basis. Liabilities payable within one year always must be classified as current liabilities.

Vulcan flyovers offers scenic overflights of mount st. helens, the volcano in washington state that explosively erupted in 1982. data concerning the company’s operations in july appear below: vulcan flyovers operating data for the month ended july 31 actual results flexible budget planning budget flights (q) 56 56 54 revenue ($350.00q) $ 16,500 $ 19,600 $ 18,900 expenses: wages and salaries ($3,300 + $91.00q) 8,354 8,396 8,214 fuel ($31.00q) 1,904 1,736 1,674 airport fees ($870 + $35.00q) 2,730 2,830 2,760 aircraft depreciation ($11.00q) 616 616 594 office expenses ($240 + $1.00q) 464 296 294 total expense 14,068 13,874 13,536 net operating income $ 2,432 $ 5,726 $ 5,364 the company measures its activity in terms of flights. customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. required: 1. prepare a flexible budget performance report for july that includes revenue and spending variances and activity variances.

Aprofessional does specialized work that's primarily: degree based. medical or legal. well paying. intellectual and creative

What role do business cycles play in a market economy