Financial Accounting for Local and State School Systems: 2014 Edition Chapter 5: Financial Reporting Liabilities
07/07/2023
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Non-current assets are long-term assets that have a useful life of more than one year and usually last for several years. Long-term assets are considered to be less liquid, meaning they can’t be easily liquidated into cash. A contingent liability is an obligation that might have to be paid in the future but there are still unresolved ...
