Based on the Following Data What Is the Amount of Current

question 63

Multiple Choice

Based on the following data what is the amount of current assets? $\begin{array} { l } \text {Accounts payable. }&\$62,000\\ \text {Accounts receivable }&100,000\\ \text {Cash. }&70,000\\ \text {Intangible assets. }&100,000\\ \text { Inventory.}&138,000\\ \text {Long-term investments. }&160,000\\ \text {Long-term liabilities. }&200,000\\ \text {Short-term investments. }&80,000\\ \text {Notes payable (short-term) }&56,000\\ \text {Property, plant, and equipment. }&1,340,000\\ \text {Prepaid insurance. }&2,000\\\end{array}$

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Definitions:

Online

Connected to or available through the internet or other digital network.

Attachment

The legal process of seizing a debtor's property to secure or satisfy a judgment.

Security Interest

A legal claim on collateral that gives a lender the right to property if a loan is not repaid.

Legal Sense

Pertains to understanding, awareness, or interpretation within the context of the law.