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Parmlee Inc.has several assets and liabilities on its balance sheet.For each of the items below,decide whether it is a current asset (CA),current liability (CL),long-term asset (LTA),long-term liability(LTL),or contra-liability (COL).
a. 15 year lease obli gation a.-----------
b. Discount on bonds payable b.-----------
c. Amcunts owed to the utility company c.-----------
d. A leased asset d.-----------
e. Current portion of longy-term debt e. -----------
f. An asset witha lease term of of the f.-----------
Status
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Values
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Customs
Norms and traditions established by societies over time governing behaviors and practices.
Status Hierarchies
Describes the ranking or ordering of individuals or groups within a society based on various criteria such as wealth, authority, or prestige.
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