Identify the Classifications of the Following Accounts as Either Current

question 31

Multiple Choice

Identify the classifications of the following accounts as either current or long-term liabilities for the December 31, 2014 balance sheet.
-An amount of money owed for years 2016 to 2020 to a creditor as annual installment payments on a ten-year note, due June 30, 2020.

• A)Current liability
• B)Long-term liability

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Definitions:

Self-Esteem

Self-Esteem is a person's overall sense of their value or worth, or how much they appreciate, respect, and feel confident about themselves.

Private Ballot

A voting method that ensures the voter's choices are secret, safeguarding the privacy of the voter's decisions.

Informational Social Influence

A psychological phenomenon where individuals conform to the attitudes, behaviors, or beliefs of a group under the assumption that the group possesses more knowledge about the situation.

Normative Social Influence

The effect others have on an individual, causing them to adapt their behaviors to gain acceptance and approval.