Multiple Choice
Which of the following should not be considered as a current asset in the balance sheet?
A) The cash surrender value of a life insurance policy carried by a corporation, the beneficiary, on its president.
B) Marketable securities purchased with cash as a short-term investment.
C) Instalment notes receivable due within 12 months in accordance with normal trade practice.
D) Prepaid taxes which cover assessments of the following operating cycle of the business.
Correct Answer:
Verified
Correct Answer:
Verified
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