Roofer's Inc

question 12

Multiple Choice

Roofer's Inc.had an operating line of credit of $100,000 and overdrew its bank balance to result in a negative cash balance of $33,000 at year-end.This would be reported in the statement of financial position as

• A)a current liability of $33,000.
• B)a non-current liability of $67,000.
• C)a current asset of $67,000.
• D)a current asset of $(33,000).

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Definitions:

Fight or Flight

A physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival.

Inhibitory Neurotransmitters

Chemicals released from the neuron that prevent the next neuron from firing, thereby decreasing brain activity or stopping specific brain signals.

Vegetative Functions

Bodily processes necessary for life that occur involuntarily, such as breathing, heart rate, and digestion.

Adrenal Gland

The adrenal glands are small, triangular-shaped glands located above the kidneys that produce hormones such as cortisol and adrenaline, involved in stress response and metabolic processes.