Of the Following Items, the Only One Which Should Not

question 30

Multiple Choice

Of the following items, the only one which should not be classified as a current liability is

• A) current maturities of long-term debt.
• B) sales taxes payable.
• C) short-term obligations expected to be refinanced.
• D) unearned revenues.

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Definitions:

Moral Sentiment

An emotional response that informs or is related to one's sense of right and wrong.

Shame

A feeling resulting from the violation of a social norm.

Ethical Subjectivist

The belief that moral judgments are statements of one's feelings or attitudes, and therefore, are neither true nor false.

Right

Morally good, justified, or acceptable; also refers to a legal entitlement or privilege.