Beta, Inc Had $10,000 of Notes Payable Coming Due on January

question 84

Multiple Choice

Beta, Inc. had $10,000 of notes payable coming due on January 10, 2016. As of December 31, 2015, Beta was negotiating with the lender to extend the due date of the note by two additional years. On January 5, 2016, the company used $2,000 of excess cash to pay off part of the note. On January 8, 2016, the refinancing was completed, the $2,000 payment was refunded and added back to the note balance, and the note was extended for another two years. On Beta's December 31, 2015 balance sheet, which was issued on April 1, 2016, how much of the $10,000 note should be shown as current?

• A) $10,000
• B) $0
• C) $8,000
• D) $2,000

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Definitions:

Systems Approach

A holistic perspective that analyzes the interconnections within systems to understand complex phenomena rather than considering individual components in isolation.

Feedback

Information given to someone about their performance or behavior, intended to guide future actions or decisions.

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Objectives or outcomes that are set and pursued by a group collectively, rather than by individual members.

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