A Delivery Company Is Creating a Balance Sheet

question 57

Multiple Choice

A delivery company is creating a balance sheet. Which of the following would most likely be considered a short-term liability on this balance sheet?

• A)revenue received for the delivery of items that have not yet been delivered
• B)the depreciation over the last year in the value of the vehicles owned by the company
• C)a loan which must be paid back in two years' time
• D)prepaid rent on the offices occupied by the company

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Definitions:

Informal Fallacies

Errors in reasoning that do not involve the logical structure of an argument but are related to the content of the argument or the way the argument is presented.

Winning

Achieving victory in a competition or contest.

Research

The systematic investigation into and study of materials and sources to establish facts and reach new conclusions.

Equivocation

The misleading use of a term with more than one meaning or sense, by glossing over which meaning is intended at a particular time.