On January 1, 2014, Donahue Company, a Calendar-Year Company, Issued

question 231

Multiple Choice

On January 1, 2014, Donahue Company, a calendar-year company, issued $600,000 of notes payable, of which $150,000 is due on January 1 for each of the next four years. The proper statement of financial position presentation on December 31, 2014, is

• A) Current Liabilities, $600,000.
• B) Non-current Liabilities $600,000.
• C) Current Liabilities, $150,000; Non-current Liabilities, $450,000.
• D) Current Liabilities, $450,000; Non-current Liabilities, $150,000.

---

Definitions:

Developing Countries

Nations with relatively lower levels of industrialization, lower standards of living, and often a lower Human Development Index (HDI) compared to developed countries.

Direct Cash Transfers

A form of financial aid where money is given directly to individuals, typically by the government, without any intermediary goods or services.

Conditional Cash

Money awarded or transferred under specific conditions or requirements, often used in social programs to encourage positive behaviors.

Unproductive Spending

Expenses that do not contribute to the growth or productivity of an economy, often seen as wasteful or inefficient.