Use the Following Information for Questions

question 41

Multiple Choice

Use the following information for questions.
Venus Corp.'s trial balance at December 31, 2017 is properly adjusted except for the income tax expense adjustment. Other financial data for the year ended December 31, 2017:
Included in accounts receivable is $720,000 due from a customer and payable in quarterly instalments of $90,000.The last payment is due December 29, 2019.
The balance in the future income tax liability account relates to a temporary difference that arose in a prior year, of which $30,000 is classified as a current liability.
During the year, estimated tax payments of $465,000 were charged to income tax expense.The current and future tax rate on all types of income is 35 percent.
-In Venus's December 31, 2017 statement of financial position, the current liabilities total is

• A)$2,435,000.
• B)$2,695,000.
• C)$2,200,000.
• D)$2,114,000.

Comprehend the age-related effects of enriched environments on brain development and function.

Understand the conditions under which a shareholder may petition for corporate dissolution.

Identify the need for shareholder approval in corporate asset transactions.

Recognize the legal grounds for corporate dissolution by a court.

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Definitions:

Immobile Factor

Refers to a factor of production that cannot easily be moved from one place to another, such as land or a fixed installation.

Supply Of Resource

The total amount of a commodity, product, or service available for use, sale, or distribution.

Oil

A fossil fuel used primarily for energy production and as a raw material in the manufacture of plastics and other important chemicals.

Price Of Resource

The financial cost required to obtain or use a particular resource.