On January 1, 2022, Junction Limited, a Calendar-Year Company, Issued

question 72

Multiple Choice

On January 1, 2022, Junction Limited, a calendar-year company, issued $160,000 of notes payable, of which $65,000 is due on January 1 for each of the next four years.The proper statement of financial position presentation on December 31, 2022, is

• A)Current Liabilities, $160,000.
• B)Non-current Liabilities, $160,000.
• C)Current Liabilities, $65,000; Non-current Liabilities, $95,000.
• D)Current Liabilities, $95,000; Non-current Liabilities, $65,000.

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Definitions:

Somatic Motor System

The part of the central and peripheral nervous system involved in the voluntary control of body movements via skeletal muscles.

Autonomic Ganglion

A cluster of nerve cell bodies in the autonomic nervous system that acts as a relay point for transmitting nerve signals.

Cranial Nerves

The twelve pairs of nerves that originate directly from the brain, not the spinal cord, and are responsible for carrying messages to and from the brain to various parts of the head and neck.

Parasympathetic Division

A division of the autonomic nervous system responsible for stimulating rest-and-digest or feed-and-breed activities in the body.