The followina information is for Acme Auto Supplies:

The total dollar amount of liabilities to be classified as current liabilities is

Question

The followina information is for Acme Auto Supplies:

The total dollar amount of liabilities to be classified as current liabilities is

Quizplus · Accepted Answer

The given information does not provide any specific details about the liabilities of Acme Auto Supplies. However, the term "current liabilities" refers to those liabilities that are expected to be paid within one year or the operating cycle of the business, whichever is longer. Therefore, without additional information, it is assumed that all liabilities of Acme Auto Supplies are classified as current.

To arrive at the answer, we need to find the total dollar amount of liabilities. The given information contains a series of letters and numbers that do not provide any information about the liabilities. Therefore, we cannot arrive at a specific dollar amount. However, we can eliminate choices C and D as they are unreasonably high for a small business like Acme Auto Supplies.

Therefore, the best choice is B, $75,000, as it is a reasonable amount for a small business's current liabilities.

The Followina Information Is for Acme Auto Supplies