A Delivery Company Is Creating a Balance Sheet

question 20

Multiple Choice

A delivery company is creating a balance sheet. Which of the following would most likely be considered a short-term liability on this balance sheet?

• A) the depreciation over the last year in the value of the vehicles owned by the company
• B) revenue received for the delivery of items that have not yet been delivered
• C) a loan which must paid back in two years
• D) prepaid rent on the offices occupied by the company

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Definitions:

Property Crime

Crimes that involve the taking of property without force or threat of force against the victim.

Massive Drop

A significant, sudden decrease in numbers or quantity, often used to describe declines in financial markets, population, or levels of something.

Mugging

A form of street crime where an attacker forcibly steals personal property from a victim in a public place.

Auto Theft

The illegal act of stealing or attempting to steal a motor vehicle.