Nord Company Had $375000 of Current Assets and $150000 of Current

question 50

Multiple Choice

Nord Company had $375000 of current assets and $150000 of current liabilities before borrowing $70000 from the bank with a 3-month note payable. What effect did the borrowing transaction have on Nord Company's current ratio?

• A) The ratio remained unchanged.
• B) The change in the current ratio cannot be determined.
• C) The ratio decreased.
• D) The ratio increased.

Analyze the degree and factors affecting social mobility within societies.

Learn about kinship organization and the concept of kindred.

Understand the concept of social stratification and mobility within stratified societies.

Gain knowledge on the advancements in human reproduction technologies.

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds over a period, reflecting the price paid for the use of a lender's money.

Straight-Line Method

This is a depreciation technique that allocates an equal portion of an asset's initial cost minus its salvage value to each year of the asset's useful life.

Semiannual

Semiannual refers to something that happens twice a year or every six months.

Discount on Bonds Payable

The variance between a bond's nominal value and the lesser amount it is sold for in the market.