Which of the Following Statements Is True with Respect to Long-Term

question 94

Multiple Choice

Which of the following statements is true with respect to long-term liabilities?

• A)They are obligations that will be satisfied within one year.
• B)An account payable is a good example of a long-term liability because it is interest-bearing.
• C)Long-term liabilities include bonds,other long-term liabilities,and deferred income taxes.
• D)Accrued expenses are considered to be long-term liabilities.

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Definitions:

Self-Serving Bias

A cognitive bias where individuals attribute their successes to personal factors and their failures to external factors.

Conspiracy Theory

Explanation of widespread, complex and worrying events in terms of the premeditated actions of small groups of highly organised conspirators.

Socio-historical Explanation

An approach to understanding phenomena by examining social and historical contexts.

Deductive Reasoning

A logical process where a conclusion is based on the concordance of multiple premises that are generally assumed to be true.