Identify the Classifications of the Following Accounts as Either Current

question 99

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 to the federal government based on the company's annual income.

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

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Definitions:

Capsular Space

The capsular space, or Bowman's space, is the region in the kidney's nephron between the Bowman's capsule and the glomerulus, involved in the filtration of blood.

Glomerular Capsule

A cup-shaped structure in the kidney that encases the glomerulus and is involved in the filtration process of blood to form urine.

Podocyte Space

The space between the foot processes of podocytes in the glomerulus of the kidney, critical for filtration of blood into urine.

Renal Pyramid

Cone-shaped tissues of the kidneys, containing the tubules and blood vessels responsible for filtering blood and producing urine.