Which of the Following Should Not Be Considered as a Current

question 17

Multiple Choice

Which of the following should not be considered as a current asset in the balance sheet?

• A)Instalment notes receivable due over eighteen months in accordance with normal trade practice.
• B)Prepaid taxes which cover assessments of the following operating cycle of the business.
• C)Equity or debt securities purchased with cash available for current operations.
• D)The cash surrender value of a life insurance policy carried by a corporation, the beneficiary, on its president.

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Definitions:

Workshift

A scheduled period of time during which an individual is expected to perform work duties.

Expected Value

The anticipated mean or average value of a random variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.

Slot Machine

A gambling device that generates random combinations of symbols on a dial, offering prizes to players based on the alignment of these symbols.

Casino's Profit

Describes the net revenue that a casino generates from its gaming and non-gaming operations, after accounting for all operational expenses.