Which of the Following Is an Example of a Long-Term

question 27

Multiple Choice

Which of the following is an example of a long-term liability?

• A) accounts payable
• B) real estate mortgage
• C) accrued expenses
• D) current portion of real estate mortgage
• E) owners' equity

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Definitions:

Maslow Hierarchy

A psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, from basic (physiological) to higher needs (self-actualization).

Lowest Level Need

Refers to the most basic or foundational requirements in a hierarchy of needs, typically associated with physiological or survival needs.

Personal Needs

Personal needs refer to the essential requirements necessary for an individual to achieve basic satisfaction, including physical, social, and psychological needs.

Need For Achievement

A psychological trait characterized by a strong desire to accomplish challenging tasks and meet high standards of success.