Use the Information from Cen, Inc -Which Statement Is True Concerning Cen's Interest?
A)Cen Paid a

question 9

Multiple Choice

Use the information from Cen, Inc. to answer questions
Cen, Inc. reported the following on its December 31, 2017, balance sheet:
$\begin{array}{lrr}\text { Current liabilities: }&2017&2016\\\hline \text { One-year short-term notes payable, net of discount of } & \$ 9,800 & \$ 6,400 \\\quad \$ 300 \text { and } \$ 400 \text {, respectively } & & \\\text { Accrued interest on notes payable } & 340 & 280 \\\text { Current portion of long-term debt } & 1,250 & 2,340 \\\text { Trade accounts pavable } & 500 & 700\end{array}$

-Which statement is true concerning Cen's interest?

• A)Cen paid a total of $60 interest during 2017.
• B)Interest was incurred during the year on more than one note.
• C)Interest of $3,200 was accrued and paid during 2017.
• D)The 'accrued interest on notes payable' amount relates only to the one-year short-term notes payable.

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Definitions:

Attraction-Selection-Attrition (ASA) Theory

A theory in organizational psychology that explains how organizations tend to attract, select, and retain individuals with similar personalities and values.

Organizational Members

Individuals who are part of an organization, including both management and non-management staff, contributing to its culture, goals, and outcomes.

Values

Core beliefs or principles that guide and motivate attitudes and actions in individuals and organizations.

Socialization

The process by which individuals acquire the knowledge, skills, and behaviors that are necessary for functioning within a society or organization.