What Is the Balance Sheet Classification of a Bank Account

question 14

Multiple Choice

What is the balance sheet classification of a bank account whose fund balance is restricted for retirement of bonds that mature in six years?

• A) current asset
• B) noncurrent asset
• C) current liability
• D) noncurrent liability

---

Definitions:

Shortage

A market condition where the demand for a product exceeds its supply at a particular price.

Supply Of Ethanol

The total amount of ethanol available for purchase or consumption in the market.

Price Of Corn

Refers to the market rate or cost at which corn is bought and sold, influenced by factors such as supply and demand, weather conditions, and market trends.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.