Write $87,524$ In Expanded Form $40,000 + 2,000 + 500 + 70 + 8$

question 92

Multiple Choice

Write $87,524$  in expanded form.

• A) \(40,000 + 2,000 + 500 + 70 + 8\)
• B) \(80,000 + 7,000 + 500 + 20 + 4\)
• C) \(70,000 + 8,000 + 400 + 20 + 5\)
• D) \(87,000 + 500 + 20 + 4\)

Recognize and categorize different types of liabilities on a classified balance sheet.

Calculate and interpret the current ratio and its implications for a business’s short-term financial health.

Understand the accounting cycle and the steps involved from journalizing transactions to preparing post-closing trial balance.

Distinguish between permanent (real) and temporary (nominal) accounts and their treatment in closing processes.

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Definitions:

Tariffs

Taxes imposed by a government on imported goods.

Imported Oil

Oil that is brought into a country from another, typically used as a critical input for energy production and transportation.

Tariff

A tax imposed by a government on goods and services imported from other countries to increase their price and encourage or protect domestic industry.

Imported Oil

Oil that is bought from foreign countries to meet domestic consumption demands.