On January 2, 2010 , Lester Company, a Calendar-Year Company

question 22

Multiple Choice

On January 2, 2010 , Lester Company, a calendar-year company, issued $40,000 of notes payable, of which $10,000 is due on January 2 for each of the next four years. The proper balance sheet presentation on December 31, 2010 7, is

• A) Current Liabilities, $40,000.
• B) Current Liabilities, $10,000; Long-Term Liabilities, $30,000.
• C) Long-Term Liabilities, $40,000.
• D) Current Liabilities, $30,000; Long-Term Liabilities, $10,000.

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Definitions:

Phobic Disorder

An anxiety disorder characterized by an extreme and irrational fear of an object, situation, or activity that poses little to no actual danger.

Genetic Predisposition

The inherent susceptibility to certain conditions or traits based on one's genetic makeup.

Anxiety Disorders

Mental health disorders characterized by significant feelings of anxiety and fear, impacting daily functioning.

Agoraphobia

A fear of going out to public places.