Refer to the Following List of Liability Balances at December

question 68

Multiple Choice

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

• A)$39,000
• B)$92,000
• C)$86,000
• D)$33,000

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Definitions:

Quiche

A savory, open-faced pastry crust filled with a mixture of eggs, milk, cheese, and sometimes meat or vegetables.

Utility Function

A mathematical representation of how choices lead to satisfaction levels for consumers, indicating preferences among various sets of goods and services.

Income

Monetary gain derived from work, investments, business, or other sources intended to fund personal expenditures.

Tax

A mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.