A Firm Has Net Working Capital of $640

question 7

Multiple Choice

A firm has net working capital of $640.Long-term debt is $4,180,total assets are $6,230,and fixed assets are $3,910.What is the amount of the total liabilities?

• A)$2,050
• B)$2,690
• C)$4,130
• D)$5,590
• E)$5,860

Recognize the importance and application of Acceptable Use Policies.

Distinguish between reliable and unreliable sources of information.

Identify different problematic behaviors enabled by digital technology.

Understand the concept and practices of digital wellness.

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Definitions:

Normal Balance

The side of an account (debit or credit) where increases are recorded, depending on the account type (asset, liability, equity, revenue, expense).

Temporary/Permanent

In accounting, this distinction categorizes accounts based on their persistence; temporary accounts reset each cycle, while permanent accounts carry their end balance into the next period.

Accrued Interest

Interest that has been incurred but not yet paid, often associated with bonds and loans.

Note Payable

A financial liability representing a written promissory note to pay a specific sum of money to another entity on a specific future date or on demand.