Accounting Tutoring - ACIS 2115, Virginia Tech

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Liability Classification

Easy

2

Moderate

3

Moderate

1	Interest Bearing Notes When you borrow money, you don't get it for free. Here, we're going to calculate the interest on an interest bearing loan.	8:26
2	Non-interest Bearing Notes "Non-interest bearing" is kind of a misnomer. You may not have to pay interest, but yo don't get all the cash up front, so it ends up being an interest expense anyway!	6:16
3	Contingencies A contingent liability is based on something else. You may or may not have to pay this sort of liability.	5:58

Topic 9