Below Is a List of Various Balance Sheet Accounts and Their

question 140

Multiple Choice

Below is a list of various balance sheet accounts and their balances. Debit Credit
$\begin{array}{|l|r|r|}\hline \text { Notes payable-short term } & & \$ 800 \\\hline \text { Salary payable } & & 3,600 \\\hline \text { Notes payable-long term } & & 20,000 \\\hline \text { Accounts payable } & & 2,200 \\\hline \text { Unearned revenue } & & 1,000 \\\hline \text { Interest payable } & & 2,200\\\hline \end{array}$
- What are the total current liabilities that would be shown on the balance sheet?

• A) $29,800
• B) $9,000
• C) $9,800
• D) $6,800

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Definitions:

Additional Unit

Pertains to an extra quantity or unit added to existing quantities, often analyzed in economic contexts like production and consumption.

Purely Competitive Conditions

describe a market structure characterized by many buyers and sellers where no single participant has the power to influence market prices significantly.

Cost Producing

The total expenses incurred in manufacturing a product or delivering a service.

Marginal Product

The additional output gained by employing one more unit of a given input.