The Economic Essence of One of the Following Should Not

question 93

Multiple Choice

The economic essence of one of the following should not be reported in the balance sheet as a current liability. Which one is not reported?

• A)Free sandwich offers printed on hockey ticket stubs
• B)Amounts sued for damages associated with injuries from an allegedly defective weed eater
• C)Mail-in rebates from software by software companies
• D)Amounts payable to an employee for a recent expense report

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Definitions:

Retroactive Amnesia

A type of amnesia where an individual loses memories for events that occurred before a certain event, often a traumatic one, making it difficult to remember past information.

Retrograde Amnesia

A loss of memory-access to events that occurred, or information that was learned, before an injury or the onset of a disease.

Prefrontal Lobe

A part of the frontal lobes of the brain involved in decision making, social behavior, and personality expression.

Hippocampus

A major component of the brains of humans and other vertebrates, involved in the consolidation of information from short-term memory to long-term memory and spatial navigation.