The Balances of Select Accounts of McCarthy Company as of December

question 50

Multiple Choice

The balances of select accounts of McCarthy Company as of December 31,2016 are given below:

The Unearned Revenue is the amount of cash received for services to be rendered in January 2017.Interest Payable will be paid on February 5,2017.What are the total long-term liabilities shown on the balance sheet?

• A)$1,300
• B)$5,000
• C)$5,400
• D)$21,000

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Definitions:

Welfare

A system that provides assistance and support, especially in terms of health, well-being, and happiness, to individuals in need.

Participative Style

A leadership approach that involves employees in decision-making processes, enhancing engagement, and commitment.

Competency Perspective

An approach that focuses on identifying and developing core competencies or skills that are critical for achieving competitive advantage and operational effectiveness.

Implicit Leadership

Implicit leadership refers to the unconscious assumptions and expectations people have about the attributes and behaviors that characterize effective leaders.