Ivan Applied for a Loan for His Business That He

question 125

Multiple Choice

Ivan applied for a loan for his business that he will repay in nine months.The best way to describe this loan is as a(n) :

• A)trade and other payable.
• B)accrued expense.
• C)current liabilities.
• D)non-current liabilities.

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Definitions:

U.S. Supreme Court

The highest court in the United States, serving as the final arbiter of legal disputes and constitutional matters.

Federal Government

The national government of a federal country, where powers are divided between the central authority and constituent political units (states or provinces).

Freedpeople

Formerly enslaved individuals who were emancipated during and after the American Civil War.

Forty Acres and a Mule

A post-Civil War promise made to African Americans to provide them with farmland and a mule to jump-start their new lives, which was largely unfulfilled.