Bark Three Times Pet Store Established a Line of Credit

question 201

True/False

Bark Three Times Pet Store established a line of credit with its local banker and used (borrowed) $85,000 against it to purchase its first year's inventory. Since it is required to repay the money before the end of its fiscal year, the company's accountant lists this liability with the current liabilities on the balance sheet.

---

Definitions:

Heart Disease

A range of conditions that affect the heart, including coronary artery disease, heart rhythm problems (arrhythmias), and heart defects among others, often characterized by blocked or narrowed blood vessels.

Behavioral Tendencies

Inclinations or propensities to act or behave in certain ways, often influenced by genetic, environmental, and psychological factors.

Positive Affect

A dimension of mood that involves feelings of joy, enthusiasm, and contentment.

Predict

To declare or indicate a future event or outcome based on observation, experience, or scientific reasoning.