Answer:
B) $16,000
Explanation:
Current liabilities are debt that must be paid within a 12 month period.
The total value of the notes payable is $355,000, but only $16,000 is due within 12 months. The $175,000 of short term debt has been refinanced and reclassified as long term debt. The $25,000 of deferred tax liability is also non current.
Answer:
Sunk; disregarded
Explanation:
Sunk cost is cost that has already been expended and cannot be recovered. It shouldn't be considered when making decisions.
No matter how much one argues, one would not be able to recover the $25. Therefore, it is sunk cost.
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Found from: Conjointly.com
Answer:
The Correct Option is C
Explanation:
Even if the insured fails to keep the underlying coverage in force, the umbrella policy is designed to still cover all claims that surpasses the underlying policies limit as though the were kept in force.
