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CHAPTER 9 - Coggle Diagram
CHAPTER 9
DEFERRED REVENUE
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because the company owes customers goods or services in the future, deferred revenues are a liability
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ACCRUED LIABILITIES
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e.g. wages incurred during the last few days of the accounting period but not paid to employees because no payroll checks were issued before the end of the accounting period
NOTE PAYABLES
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a company must reclassify its long-term debt as a current liability when the debt will be paid with cash (or other current asset) within the next year
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TIME VALUE OF MONEY
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refers to the fact that a dollar received today is worth more than a dollar to be received at any later date because of interest
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