Below Is a List of Various Balance Sheet Accounts and Their

question 119

Multiple Choice

Below is a list of various balance sheet accounts and their balances. $\begin{array}{|l|r|r|} \hline& {\text { Debit }}&\text { Credit } \\\hline \text { Building } & \$ 100,000 \\\hline \text { Cash } & 2,000 \\\hline \text { Supplies } & 800 \\\hline \text { Furniture } & 2,600 \\\hline \text { Prepaid insurance } & 150 \\\hline \text { Accumulated depreciation-furniture } & & \$ 900 \\\hline \text { Inventory } & & \\\hline \text { Land } & 25,000 \\\hline \text { Accumulated depreciation-building } & & 4,800 \\\hline \text { Accounts rec eivable } & 1,500\\\hline\end{array}$
- What are the total long-term assets that would be shown on the balance sheet?

• A) $127,600
• B) $121,900
• C) $128,400
• D) $96,900

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Definitions:

Upward Communication

The process of information flow from the lower levels of a hierarchy to the higher levels within an organization.

Peer-to-peer

A network model where each participant (or node) acts as both a client and a server, sharing resources and services directly without the need for central coordination.

Social Presence

A measure of how much an individual feels socially connected and present in a digital or virtual environment.

Social Stratification

The division of society into levels, classes, or groups based on socioeconomic status, power, ethnicity, or other factors.