Question

ben chase needs to pay off some of his debts over the next few months. which item on his balance sheet would help him decide what amounts are due in the near future.

A. the budget variance - wrong

B. investment assets

C. Long-term liabilities

D. current liabilities

Answer 1

The answer is D. Current liabilities, as these are amounts due within the next 12 months

Answer 2

Current liabilities on the balance sheet would help to decide the amount that is due in the near future.

What is a Balance sheet?

The term balance sheet refers to a financial statement that reports the assets, liabilities, and shareholder equity of a company or an individual at a specific point in time. It can also be referred to as a statement of net worth or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity.

What are the components of a balance sheet?

A typical balance sheet contains three core components: assets, liabilities, and shareholder equity.

• Assets represent all things of value that belong to the company. This includes liquid assets such as cash or cash equivalents, as well as incoming payments.
• Long-term liabilities and long-term debt include mortgage payments, interest payments, and installment plans on machinery. Short-term liabilities include employees’ salaries and monies owed to vendors for services or raw materials.
• Shareholders’ equity—also known as stockholders’ equity or owner’s equity—is the amount of money available after all liabilities have been paid.

Which component tells about the amounts that are due in the future?

The liabilities in a balance sheet show the amount that is to be paid. The amount to be paid in the near future is shown by the short-term liabilities.

Learn more about the Balance sheet here:https://brainly.com/question/1113933

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