On 1 December 2016,Fine Products Borrowed $96,000 on a 8%,8-Year

question 14

Multiple Choice

On 1 December 2016,Fine Products borrowed $96,000 on a 8%,8-year note with annual instalment payments of $12,000.00 plus interest due on 1 December of each succeeding year.On 1 December,the principal amount was initially recorded as Long-term notes payable.What amount of the note payable will be shown as current portion of Long-term notes payable on the balance sheet as of 31 December 2016?

• A)$12,000.00
• B)$7680.00
• C)$24,000.00
• D)$19,680.00

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Definitions:

Functionalism

Functionalism is a perspective in psychology that focuses on how mental and behavioral processes function - how they enable the organism to adapt, survive, and flourish.

Purpose Of Behaviour

The underlying reason or motive behind specific actions or responses by individuals or organisms.

Psychological Research Laboratory

A controlled environment where scientists conduct studies relevant to psychology.

G. Stanley Hall

An American psychologist and educator who is considered the founder of developmental psychology.