The Current Assets Section of a Balance Sheet Should Never

question 11

Multiple Choice

The current assets section of a balance sheet should never include

• A) a receivable from a customer not collectible for over one year.
• B) the premium paid on short-term bond investment.
• C) goodwill arising from the purchase of a going business.
• D) customers' accounts with credit balances.

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Definitions:

Larynx

Cartilaginous organ located between the pharynx and the trachea; in humans, contains the vocal cords; sometimes called the voice box.

Bronchi

The major air passages of the lungs that diverge from the windpipe, allowing the transportation of air in and out of the lungs.

Tidal Volume

The volume of air inhaled or exhaled in a normal breath during resting conditions.

Static Volume

A measurement in fluid mechanics that refers to the volume of a fluid at rest.