An Item That Must Be Paid Within One Year or One

question 149

Multiple Choice

An item that must be paid within one year or one operating cycle of the firm is classified as a:

• A) current liability.
• B) long-term asset.
• C) current asset.
• D) None of the choices are correct.

---

Definitions:

Osmotic Thirst

Thirst that results from a high concentration of dissolved chemicals, or solutes, in body fluids.

Hypovolemic Thirst

Thirst produced by a loss of overall fluid volume from the body.

Chemical Concentrations

The measure of the amount of a substance per defined space; concentration usually refers to how much of a substance is contained in a liquid or gas.

Neurodevelopmental Disorder

A group of disorders that affect the development of the nervous system, leading to abnormal brain function and behavior challenges.