Maybel Company Has a March 31, 2019 Year End

question 25

Multiple Choice

Maybel Company has a March 31, 2019 year end. Which of the following should not be recorded as a current liability?

• A)A deposit received from a customer for the February 2020 rent on a 1-year lease entered into on March 1, 2019.
• B)Unpaid payroll taxes.
• C)Dividends in arrears on preferred dividends.
• D)Property taxes estimated and unpaid based on the prior year's municipal tax bill.

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Definitions:

Overconfidence

The state of being excessively confident, often leading to underestimating risks, challenges, or the abilities of others.

Too Much Time

Too much time typically refers to scenarios where there is an excess of available time which could lead to inefficiency or procrastination.

General Decision-making Model

A step-by-step approach to making decisions that typically starts with identifying a problem, generating alternative solutions, evaluating the alternatives, and then selecting and implementing the best solution.

Routine Decision

A routine decision involves regularly made choices that follow established procedures or rules, often requiring minimal thought or deliberation.