Notes Payable That Are Due in Two Years Are

question 51

Multiple Choice

Notes payable that are due in two years are:

• A) Current liabilities.
• B) Long-term intangible assets.
• C) Long-term liabilities.
• D) Long-term investments.

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Definitions:

Carrying Costs

Expenses associated with maintaining inventory, including storage, insurance, and opportunity costs.

Cycle Counting

An approach to stock audit where a limited selection of the inventory at a defined site is enumerated on a chosen date.

Service Level

A measure of the performance of a service system, often defined in terms of responsiveness to customer needs and reliability.

Ordering Costs

The expenses associated with the process of requisitioning, purchasing, and receiving goods and services; includes costs of paperwork, communication, and inspections.