A Deferred Tax Liability That Is Due in 5 Years

question 121

Multiple Choice

A deferred tax liability that is due in 5 years is classified as a

• A)long-term liability.
• B)current liability.
• C)stockholders' equity account.
• D)long-term asset.
• E)current asset.

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Definitions:

Genetic Expression

The process by which information from a gene is used to synthesize functional gene products, such as proteins, which can influence an organism's traits.

Transcription

The complex chain of cellular processes that involves translating the code specified by a gene into the production of a protein. This series of biochemical events ultimately accounts for genetic expression or influence.

Translation

One step in a cell’s production of a protein, in which the cell “reads” the code represented in a strand of mRNA and creates a protoprotein based on that code.

Prenatal Development

The process of growth and development within the womb from conception until birth.