The Balances of Select Accounts of McCarthy Company as of December

question 50

Multiple Choice

The balances of select accounts of McCarthy Company as of December 31, 2016 are given below: The Unearned Revenue is the amount of cash received for services to be rendered in January 2017. Interest Payable will be paid on February 5, 2017. What are the total long-term liabilities shown on the balance sheet?

• A) $1,300
• B) $5,000
• C) $5,400
• D) $21,000

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Definitions:

Trend

A general direction in which something is developing or changing, often identified in data analysis.

Average Run Length

In statistical process control, it is the expected number of samples taken until a control chart signals a possible shift in process parameters.

Control Chart

A tool used in process control to monitor, control, and identify the stability of a process over time.

Process

A series of actions or steps taken in order to achieve a particular end.