The Following Items Are Taken from the Financial Statements of the Postal

question 26

Multiple Choice

The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2018: $\begin{array}{lr}\text { Accounts payable } & 18,000 \\\text { Accounts receivable } & 11,000 \\\text { Accumulated depreciation - equipment } & 28,000 \\\text { Advertising expense } & 21,000 \\\text { Cash } & 15,000 \\\text { Common stock } & 42,000 \\\text { Dividends } & 14,000 \\\text { Depreciation expense } & 12,000 \\\text { Insurance expense } & 3,000 \\\text { Note payable, due } 6 / 30 / 19 & 70,000\\\text { Prepaid insurance (12-month policy) } & 6,000 \\\text { Rent expense } & 17,000 \\\text { Retained earnings (1/1/18) } & 60,000 \\\text { Salaries and wages expense } & 32,000 \\\text { Service revenue } & 13,000 \\\text { Supplies } & 4,000 \\\text { Supplies expense } & 6,000 \\\text { Equipment } & 210,000\end{array}$ The current assets should be listed on Postal Service's balance sheet in the following order:

• A) cash, accounts receivable, prepaid insurance, equipment.
• B) cash, prepaid insurance, supplies, accounts receivable.
• C) cash, accounts receivable, prepaid insurance, supplies.
• D) equipment, supplies, prepaid insurance, accounts receivable, cash.

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Definitions:

World Council

A global organization or assembly aimed at addressing, discussing, and solving world issues.

Indigenous Peoples

Ethnically distinct groups that have maintained traditional ways of living, often connected to specific territories prior to colonization or modern state formation.

Ethnocentrism

The belief that the ways of one's own culture are the only proper ones.

Groups

Collections of individuals who interact with one another, sharing common interests or goals within a society or community.