_____ Must Be Paid in Less Than One Year from the Date

question 68

Multiple Choice

_____ must be paid in less than one year from the date of the financial statement on which it is reported.

• A)Commercial paper
• B)Receivables
• C)Marketable securities
• D)Short-term debt

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Definitions:

Ratification

The official approval or formal adoption of a treaty, agreement, or legislative act through a vote or other consenting mechanism.

Constitutional Convention

The gathering that took place in 1787, in Philadelphia, to draft the United States Constitution, replacing the Articles of Confederation.

Ben Franklin

Benjamin Franklin was one of the Founding Fathers of the United States, known for his contributions as an inventor, scientist, diplomat, and philosopher, as well as for his pivotal role in the American Revolution and the drafting of the U.S. Constitution.

James Madison

The fourth President of the United States (1809-1817) and is considered one of the Founding Fathers, known for his role in drafting the U.S. Constitution and the Bill of Rights.