Below Is a List of Various Balance Sheet Accounts and Their

question 137

Multiple Choice

Below is a list of various balance sheet accounts and their balances. Debit Credit
$\begin{array}{|l|r|r|}\hline \text { Notes payable-short term } & & \$ 800 \\\hline \text { Salary payable } & & 3,600 \\\hline \text { Notes payable-long term } & & 20,000 \\\hline \text { Accounts payable } & & 2,200 \\\hline \text { Unearned revenue } & & 1,000 \\\hline \text { Interest payable } & & 2,200\\\hline \end{array}$ What are the total long-term liabilities that would be shown on the balance sheet?

• A) $29,800
• B) $9,000
• C) $9,800
• D) $20,000

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Definitions:

Walter Lippmann

An influential American journalist and commentator known for his works on media and public opinion.

Containment Doctrine

A foreign policy strategy adopted by the United States during the Cold War aiming to prevent the spread of communism by providing political, military, or economic assistance to threatened nations.

Marshall Plan

A U.S.-initiated program aimed at the economic recovery of war-torn Europe post World War II, through significant financial aid and rebuilding efforts.

Western Europe

A region comprising the western part of Europe, known for its advanced economies, democratic institutions, and historical influence on global affairs.