The Balances of Select Accounts of McMurray,Inc

question 148

Multiple Choice

The balances of select accounts of McMurray,Inc.as of December 31,2018 are given below:

The Unearned Revenue is the amount of cash received for services to be rendered in January 2019.Interest Payable will be paid on February 5,2019.What are the total long-term liabilities shown on the balance sheet at December 31,2018?

• A)$1,300
• B)$3,000
• C)$4,300
• D)$24,000

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Definitions:

Competent Leaders

Those who possess the necessary skills, knowledge, and experience to effectively guide and inspire a group towards achieving its goals.

Experienced Leaders

Individuals who possess a significant amount of knowledge and skills in leading due to their extensive involvement in relevant roles.

Biases

Prejudices or inclinations that affect judgement, typically in a way that is considered to be unfair.

Escalating Commitment

The phenomenon where people continue to invest time, money, or effort into a failing decision, project, or course of action due to previous investments.