Lionworks Inc

question 15

Multiple Choice

Lionworks Inc.signed a $45,000 8% 30-year installment note on November 1,2014.The note requires semiannual payments of $750 plus interest on May 1 and November 1 of each year.How will Budget Auto classify this loan on its December 31,2014 Balance Sheet?

• A)Current Portion of Long-term debt,$0;Long-term debt,$45,000
• B)Current Portion of Long-term debt,$45,000;Long-term debt,$0
• C)Current Portion of Long-term debt,$750;Long-term debt,$44,250
• D)Current Portion of Long-term debt,$1,500;Long-term debt,$43,500

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Definitions:

Prosocial Interactions

Positive social behaviors that are intended to help or benefit others, such as sharing, comforting, or cooperative actions.

Compatible

Capable of existing or working together in harmony without conflict or inconsistency.

Occupants

Individuals who inhabit or reside within a particular space, area, or building.

Defensible Space Theory

A criminological theory proposing that architectural and environmental design plays a pivotal role in reducing crime by enhancing natural surveillance and defining public and private spaces.