Which of the Following Statements Is True with Respect to Long-Term

question 94

Multiple Choice

Which of the following statements is true with respect to long-term liabilities?

• A)They are obligations that will be satisfied within one year.
• B)An account payable is a good example of a long-term liability because it is interest-bearing.
• C)Long-term liabilities include bonds,other long-term liabilities,and deferred income taxes.
• D)Accrued expenses are considered to be long-term liabilities.

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Definitions:

Political Adversary

An individual or group that holds opposing political views or interests, often competing for power or influence.

Liberals

Individuals or groups advocating for progressive reforms, freedom, and equality in social, political, and economic spheres.

Minority Business Enterprise

A business that is owned and operated by individuals from minority groups, often supported by certain government programs to promote diversity and economic equality in the business sector.

Entrepreneurial Activities

Initiatives aimed at launching, developing, and managing a new business venture in the face of risk with the goal of profit-making.