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:

Justified True Belief

A traditional model in epistemology that defines knowledge as a belief that is both true and justified by sufficient evidence or reasoning.

Knowledge

Knowledge or proficiency gained from direct experience or instruction; insight into a subject via its study or application in a practical or theoretical manner.

Corresponds to Facts

The alignment or agreement of a statement, theory, or belief with the actual state of affairs or reality.

Numbers

Mathematical objects used to count, measure, and label.