What you owe that will require you to give up economic value in the future is a(n) ___________________.

The pro forma total liabilities amount is ________. (See Table 4.5)

A) $500,000 B) $550,000 C) $700,000 D) $650,000

The time delay between when a check is written and when funds are available to the payee is called the float

Indicate whether the statement is true or false.