How Many of the Following Balance Sheet Items Are Classified

question 85

Multiple Choice

How many of the following balance sheet items are classified as a current asset or current liability?
• Retained earnings
• Accounts payable
• Plant and equipment
• Inventory
• Common stock
• Bonds payable
• Accrued wages payable
• Accounts receivable
• Preferred stock

• A) Three of these items.
• B) Four of these items.
• C) Five of these items.
• D) Six of these items.

---

Definitions:

Humanity

The collective qualities, characteristics, and conditions that define human beings, including compassion, social bonds, and ethical values.

Bystander Apathy Paradigm

A social psychological theory that explains why individuals do not offer help in an emergency situation when other people are present.

Prejudice

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience.

Emergency Situation

A sudden and unexpected event that requires immediate action to prevent serious harm or disaster.