On the Company's 20A Year-End Statement of Financial Position,the Liability

question 76

Multiple Choice

On the company's 20A year-end statement of financial position,the liability related to this note should be reported as which of the following?

• A)A $12,480 long-term liability.
• B)A $12,480 current liability.
• C)A $12,000 long-term liability.
• D)A $12,000 current liability.

---

Definitions:

Feelings

Emotional states or reactions that are experienced subjectively and are often expressed through thoughts and behavior.

Transference

A phenomenon in psychotherapy where the feelings a patient has toward their therapist are based on the patient's feelings toward someone else in their life.

Analyst

A professional who examines or studies a subject in detail in order to discover or reveal new insights or information.

Parents

Adults or guardians responsible for the raising, caring for, and socializing of children.