Which of the Following Amounts Would Be Included on the Right

question 28

Multiple Choice

Which of the following amounts would be included on the right side of a balance sheet?

• A)the amount of money owed to the company by customers who have not yet paid for goods and services they have received
• B)the amount of deferred tax liability held by the company
• C)the value of government bonds held by the company
• D)the cash held by the company

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Definitions:

Security Interest

A legal claim or lien on collateral that has been pledged, usually to obtain a loan, that gives the lender a right to repossession if the loan is not repaid as agreed.

Insurable Interest

The requirement that a person stands to suffer a financial loss or certain other kinds of losses if the insured event occurs.

Retains

implies holding onto or keeping in possession, often used in legal and financial contexts to describe holding onto services, rights, or properties.

Shipment Contract

An agreement between a seller and buyer where the seller is obligated to ship the goods and the buyer is obligated to accept and pay for them, under specified terms.