1. Obligations due to be paid within one year or within the company's operating cycle, whichever is longer, are:

Current assets

Current liabilities

Earned revenues

Operating cycle liabilities

Bills

1. A special bank account used solely for the purpose of paying employees, is created by depositing the amount of each employees' net pay into the account every pay period. This account is referred to as a(n):

Federal depository bank account

Employee's Individual Earnings account

Employees' bank account

Payroll register account

Payroll bank account

1. On October 10, 2010, Printfast Company sells a commercial printer for 2,350 with a one year warranty that covers parts. Warranty expense is project to be 4% of sales. On February 28, 2011, the printer requires repairs. The cost of the parts for...