Identify the Classifications of the Following Accounts as Either Current

question 129

Multiple Choice

Identify the classifications of the following accounts as either current or long-term liabilities for the December 31, 2016 balance sheet.
-An amount of money owed for years 2018 to 2022 to a creditor as annual installment payments on a ten-year note, due June 30, 2022.

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

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Definitions:

Stereotype

A widely held but fixed and oversimplified image or idea of a particular type of person or thing.

Nonverbal Communication

The process of conveying a message without the use of words, including through facial expressions, body language, gestures, and tone of voice.

Accentuation

The emphasis or stress placed on a particular syllable in a word or on a particular word in a sentence.

I-Messages

A communication tool that focuses on the speaker's feelings rather than blaming the listener, often used to express one’s feelings or needs assertively.