Which of the Following Would Not Appear on a Conventional

question 48

Multiple Choice

Which of the following would not appear on a conventional balance sheet?

• A) income taxes payable
• B) funds from operations
• C) cash surrender value of life insurance
• D) appropriation for contingencies (restriction of retained earnings)
• E) patents

---

Definitions:

Payments

Transactions wherein money is transferred from one party to another, typically in exchange for goods or services.

Borrowing Rate

The interest rate applied to loans and borrowings taken by a company or an individual.

Note Payable

A written promise to pay a certain amount of money, usually with interest, at a future date or over a period of time.

Market Interest Rate

The rate at which interest is paid by borrowers for borrowing funds in the market.