The Adjusted Trial Balance for Lamar Corp

question 108

Multiple Choice

The adjusted trial balance for Lamar Corp. at the end of the current year, 2018, contained the following accounts. The total long-term liabilities reported on the balance sheet are

• A) $1,945,000.
• B) $1,935,000.
• C) $2,095,000.
• D) $2,085,000.

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Definitions:

Source Of Cash

A source of cash refers to any activity or transaction that brings money into a business or individual's possession, increasing cash flow.

Purchasing Manager

A professional responsible for obtaining goods and services for business operations at the best possible price and quality.

Inventory Holdings

The quantity and value of goods a company has in stock or in a warehouse, ready for sale or distribution.

Marketable Securities

Financial instruments that can be easily sold or converted to cash without a significant loss in value.