Which of the Following Would Normally Be Considered a Current

question 119

Multiple Choice

Which of the following would normally be considered a current liability? 1. accounts payable
2) debentures payable
3) unearned revenue
4) accrued liabilities

• A) 1 and 4
• B) 1, 2, and 4
• C) 1, 3, and 4
• D) 2 and 3

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Definitions:

Long Run

A period in economics sufficient for all markets to adjust, including prices, outputs, and wages, reflecting changes in economic conditions or policies.

Perfect Competitor

A theoretical market scenario where many firms sell identical products, where no single buyer or seller can influence the market price.

Long Run

A period in economics where all factors of production and costs are variable, and firms can enter or exit the market.

Perfect Competitor

A theoretical market structure where numerous small firms produce identical products, allowing no single firm to affect the market price.