A Delivery Company Is Creating a Balance Sheet

question 15

Multiple Choice

A delivery company is creating a balance sheet.Which of the following would most likely be considered a short-term liability on this balance sheet?

• A)the depreciation over the last year in the value of the vehicles owned by the company
• B)revenue received for the delivery of items that have not yet been delivered
• C)a loan which must paid back in two years' time
• D)prepaid rent on the offices occupied by the company

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Definitions:

Infantile Amnesia

The inability of adults to recall autobiographical memories from the first few years of life, typically before the age of 3 or 4.

Conscious Memories

Memories that can be intentionally recalled, such as facts or events that one has consciously experienced and stored in memory.

Egocentrism

A cognitive bias involving an inability to differentiate between one's own perspective and someone else's perspective.

Imprinting

A form of learning occurring at a specific life stage that is rapid and apparently independent of the consequences of behavior.