On December 31,2015,Sandy Company Has a Note Receivable of $5,000

question 27

Multiple Choice

On December 31,2015,Sandy Company has a Note Receivable of $5,000.The note will be collected in installments.$1,000 is due on December 31,2016 and $1,000 is due every year after December 31,2016.The classification of the note on the balance sheet at December 31,2015 is:

• A)all $5,000 is a current asset.
• B)all $5,000 is a long term asset.
• C)$1,000 is a current asset and $4,000 is a long-term asset.
• D)$4,000 is a current asset and $1,000 is a long-term asset.

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Definitions:

Displacement

In psychology, a defense mechanism where an individual shifts negative feelings or behaviors from the original source to a safer or more accessible target.

Defense Mechanisms

Psychological strategies used unconsciously to protect oneself from anxiety or unacceptable thoughts and feelings.

Neuroses

Refers to a range of psychological disorders characterized by anxiety, depression, or other feelings of unhappiness or distress that are out of proportion to the circumstances of a person's life.

Self-Deceptive Techniques

Self-deceptive techniques are psychological strategies individuals use to deny or rationalize their own behavior, thoughts, and feelings to protect their self-esteem or avoid facing uncomfortable truths.