The Balances of Select Accounts of McMurray Company as of December

question 42

Multiple Choice

The balances of select accounts of McMurray Company 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)$1,500
• B)$3,000
• C)$6,000
• D)$23,000

---

Definitions:

R&D

Research and Development, referring to activities in connection with corporate or governmental innovation.

Interest-rate Cost

The expense incurred from borrowing money, typically expressed as a percentage of the principal amount.

Scientific Character

The nature or behavior of something that is based on or in accordance with the principles of science.

Technological Opportunities

The possibilities for technological innovation and development, often leading to new products, services, or processes.