-A 30-Year Mortgage Loan Is a
A) Current Liability

question 41

Multiple Choice

$\begin{array} { l } \text { Balance Sheet }\\\begin{array} { l } \text { Assets}& \text { Liabilities}\\\begin{array}{l}\text { Current Assets }\\\hline\text { Cash } & 50 \\\text { Accounts receivable } & 22 \\\text { Inventories } & 17 \\\text { Total current assets } & 89\\\end{array}&\begin{array}{l}\text { Current Liabilities }\\\hline\text { Accounts payable } & 42 \\\text { Notes pavable/short-term debt } & 7\\\\\text { Total current liabilities }&49\\\end{array}\\\\\begin{array}{ll}\text {Long-Term Assets }\\\hline\text {Net property, plant, }\\\text { and equipment } & 121 \\ \text { Total long-term assets } & 121\\\\\\\text { Total Assets }&210\\\\\end{array}&\begin{array}{ll}\text { Long-Term Liabilities }\\\hline\\\text { Long-term debt } & 128 \\\text { Total long-term liabilities } & 128 \\\text { Total Liabilities } & \mathbf{1 7 7} \\\text { Shareholders' Equity } & 33 \\\text { Total Liabilities and } & 210 \\\text { Shareholders' Equity } &\end{array}\end{array}\end{array}$

-A 30-year mortgage loan is a

• A) Current Liability.
• B) Long-Term Asset.
• C) Long-Term Liability.
• D) Current Asset.

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Definitions:

Strengths

Attributes of an individual or organization that are beneficial and can be leveraged to achieve goals and overcome challenges.

Weaknesses

Aspects of an organization or individual that are detrimental to achieving its objectives and can be internal vulnerabilities or areas needing improvement.

Opportunities

Opportunities refer to favorable situations or conditions that can lead to the success of an activity, project, or business venture.

Threats

Potential dangers or negative impacts that could harm an entity or hinder its plans.