Which of the following should not be considered as a current asset in the balance sheet?
A) Instalment notes receivable due over eighteen months in accordance with normal trade practice.
B) Prepaid taxes which cover assessments of the following operating cycle of the business.
C) Equity or debt securities purchased with cash available for current operations.
D) The cash surrender value of a life insurance policy carried by a corporation, the beneficiary, on its president.
Correct Answer:
Verified
Q10: A company that follows IFRS
A)can disclose the
Q11: Significant changes to the presentation of financial
Q12: An example of an item which is
Q13: Which of the following is a limitation
Q14: Treasury stock should be reported as a(n)
A)current
Q17: Long-term liabilities include
A)obligations not expected to be
Q18: Which of the following items would require
Q19: Disclosure of the date that financial statements
Q23: Equity or debt securities held to finance
Q38: Working capital is
A)capital which has been reinvested
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