Kramer and Associates Has the Following Account Balances Listed in Alphabetical

question 122

Multiple Choice

Kramer and Associates has the following account balances listed in alphabetical order: Accumulated Depreciation, $24,000; Accounts Payable, $9,500, Accounts Receivable, $11,000; Cash, $4,000; Equipment, $47,000, Land, $23,000, Mortgage Payable, $46,000; Prepaid Insurance, $7,500; Supplies, $1,000; Unearned Revenue, $5,000; Wages payable, $2,000. Kramer and Associates' current liabilities are:

• A)$16,500.
• B)$57,500.
• C)$11,500.
• D)$62,500.

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Definitions:

Extinction Procedure

A behavioral technique in which reinforcement of a previously reinforced behavior is discontinued, leading to a decrease in the frequency of the behavior.

Operant Conditioning

A process of acquiring knowledge in which the force of an activity is changed by either positive reinforcement or penalties.

Token Economy

A behavioral therapy method that involves rewarding desired behaviors with tokens that can be exchanged for various privileges or treats.

Operant-conditioning

A learning process through which the strength of a behavior is modified by reward or punishment.