Which One of the Following Lists the Entities Which Use

question 41

Multiple Choice

Which one of the following lists the entities which use budgets?

• A)merchandisers and service companies
• B)manufacturing, merchandisers, and service companies
• C)service, retail, and wholesale companies
• D)manufacturers only

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Definitions:

Bonds

Long-term debt securities issued by corporations and governments to raise funds, paying periodic interest and principal at maturity.

Mortgage Notes Payable

A long-term note secured by a mortgage that pledges title to specific assets as security for a loan.

Current Liability

Financial obligations a company is required to settle within one year or within the normal operating cycle.

Long-term Liability

Long-term Liability is any financial obligation of a business that is due for a period exceeding one year, such as bonds payable, long-term loans, and lease obligations.