A Company Has an $11,263 Credit Balance in the Payable

question 33

Multiple Choice

A company has an $11,263 credit balance in the payable accounts. Given this information, which of the following is a TRUE statement?

• A)It is NOT normal for payable accounts to have a credit balance.
• B)Not enough information provided, since normal account balances are different for each company.
• C)It is ALWAYS normal for payable accounts to have a credit balance.
• D)Payable accounts shouldn't be this high, so this is not a normal balance.

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Definitions:

Goal-related Stimuli

External cues or information that can influence motivation and action toward achieving a goal.

Higgins's Self-discrepancy Theory

A theory positing that individuals experience emotional discomfort or psychological distress due to discrepancies between their actual self, ideal self (aspirations), and ought self (sense of duty or obligation).

Ought Self

An individual's representation of what they believe they should be, often influenced by societal expectations.

Ought Self

A component of self-concept representing the attributes an individual or others believe they should possess.