Qwik Company Showed the Following Balances at the End of Its

question 174

Multiple Choice

Qwik Company showed the following balances at the end of its first year:
$\begin{array}{lr}\text { Cash } & \$ 8,700 \\\text { Prepaid insurance } & 9,400 \\\text { Accounts receivable } & 7,000 \\\text { Accounts payable } & 5,800\\\text { Notes payable } & 9,400 \\\text { Owner's Capital } & 2,300 \\\text { Owner's Drawings } & 1,400 \\\text { Revenues } & 44,000 \\\text { Expenses } & 35,000\end{array}$
What is the total of the accounts with a credit balance?

• A) $ 52,400
• B) $ 61,500
• C) $ 62,900
• D) $ 70,900

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Definitions:

Sex Type

Describes the classification of individuals or characteristics based on sexual differences, often used in gender studies and biology.

Circumscription

A concept related to career development, where individuals limit their career options based on various constraints such as social norms and personal beliefs.

Compromise

The process of making concessions or finding middle ground in situations where initial career aspirations may not be fully attainable.

Narrowing

The act of reducing the scope or range of options, often in decision-making processes.