Which of the following liabilities is created when a company receives cash for services to be provided in the future?

To buy his favorite car, Larry is planning to accumulate money by investing his Christmas bonuses for the next five years in a security which pays a 10 percent annual rate of return

The car will cost $20,000 at the end of the fifth year and Larry's Christmas bonus is $3,000 a year. Will Larry accumulate enough money to buy the car?

Disaster recovery planning is typically part of the IS operations budget

Indicate whether the statement is true or false