When Preparing the Balance Sheet for AAA,Inc

question 219

Multiple Choice

When preparing the balance sheet for AAA,Inc.for December 31,2015,which item would not be classified as a current liability?

• A) Note payable due March 1, 2017
• B) Accounts payable
• C) Income taxes due on September 15, 2016
• D) The current portion of a 30-year mortgage

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Definitions:

Gonadotropin-Releasing Hormone

A hormone secreted by the hypothalamus that stimulates the anterior pituitary to release gonadotropins, influencing reproductive functions.

Anterior Pituitary

The front portion of the pituitary gland, which produces and releases hormones that regulate various bodily functions including growth, reproduction, and metabolism.

Corpus Luteum

The temporary endocrine tissue in the ovary that develops from the ruptured follicle after ovulation; secretes progesterone and estrogen.

Secondary Spermatocyte

A cell that arises from the division of a primary spermatocyte and will undergo meiosis II to produce spermatids.