accounting 459071

1.Period costs include:

Choose one answer.

a. current assets on the balance sheet

b. current liabilities on the balance sheet

c. operating costs that are shown on the income statement when products are sold

d. operating costs that are shown on the income statement in the period in which they are incurred

2.Accounts payable $ 30,000

Accounts receivable 65,000

Accrued liabilities 7,000

Cash 20,000

Intangible assets 40,000

Inventory 72,000

Long-term investments 100,000

Long-term liabilities 75,000

Marketable securities 36,000

Notes payable (short-term) 20,000

Property, plant, and equipment 625,000

Prepaid expenses 2,000

Based on the above data, what is the amount of quick assets?

Choose one answer.

a. $163,000

b. $195,000

c. $121,000

d. $56,000