On January 1,2015,Notes Receivable Have a Balance of $10,000

question 21

Multiple Choice

On January 1,2015,Notes Receivable have a balance of $10,000.On December 31,2015,Notes Receivable have a balance of $90,000.No collections on notes receivable occurred in 2015.What amount of new notes were written in 2015?

• A)$10,000
• B)$80,000
• C)$90,000
• D)$100,000

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Definitions:

Mental Set

A frame of mind involving an established way of thinking, which can sometimes inhibit the ability to solve new problems.

Hierarchies

A system of organization where entities are ranked one above the other based on their status or authority.

Cognitive Maps

Mental representations of physical locations, helping an individual to navigate and understand spatial environments.

Mental Sets

The tendency to approach situations in a certain way because previous methods have been successful; can sometimes inhibit problem-solving.