Use the Following Information for the Following Questions:
Orange Corp

question 47

Multiple Choice

Use the following information for the following questions:
Orange Corp reported the following items on its calendar 2020 statement of comprehensive income:
$\begin{array}{llcc} \text { Interest revenue..................... } &\$84,200 \\ \text { Salaries expense..................... } &72,000\\ \text { Insurance expense.................. } &10,600\\\end{array}$
As well, their statements of financial position showed the following balances:
$\begin{array}{llcc} &\underline{\text {December 31, 2019 } } &\underline{ \text {December 31. } } \\ \underline{\text {2020 }} & & \\ \text {Accrued interest receivable................ } &\$10,100&\$8,800\\ \text { Accrued salaries payable...................} &9,800&5,400\\ \text { Prepaid insurance..............................} &1,500&1,600\\\end{array}$

-The cash paid for salaries during 2020 was

• A) $ 76,400.
• B) $ 72,000.
• C) $ 67,600.
• D) $ 81,800.

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Definitions:

Social Media

Platforms and websites that enable users to create and share content or participate in social networking, influencing public opinion and communication patterns.

Virtual Meetings

Online gatherings facilitated by digital platforms, allowing participants to interact and collaborate remotely without the need for physical presence.

Specific Environment

The unique external forces and entities that directly impact an organization's operations, including customers, competitors, suppliers, and regulatory agencies.

General Environment

The broad external conditions that affect organizations, including economic, legal, technological, and cultural factors.