Refer to the Following List of Liability Balances at December

question 110

Multiple Choice

Refer to the following list of liability balances at December 31, 2015. What is the total amount of current liabilities?

• A)$18,880
• B)$15,380
• C)$14,980
• D)$14,380

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Definitions:

Common Resource

A type of good that is non-excludable and rivalrous, such as fish stocks in the ocean; it is available to all but can be depleted by excessive use.

Public Good

A good that is both nonexcludable and nonrival in consumption.

Fire Protection

A range of measures and services designed to minimize the impact of fire on people, property, and the environment.

Private Good

A good that is both excludable and rival in consumption.