Sterling Inc

question 109

Multiple Choice

Sterling Inc. has two long-term notes outstanding. One is a five-year note for $50,000. An equal amount of principal must be repaid each year of the loan. The other is a seven-year note for $210,000. In the next calendar year, the company will pay $21,000 of the principal. What is total amount of the notes that will be reported as current liabilities on its balance sheet?

• A) $229,000
• B) $71,000
• C) $40,000
• D) $31,000

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Definitions:

Cognitive Behavior

The study of behavioral and mental processes that involves understanding problem solving, memory, and decision making.

Motor Behavior

The study of how motor skills are learned, controlled, and developed to facilitate physical movement.

Parietal Lobe

A region of the cerebral cortex that plays a key role in processing sensory information from various parts of the body, understanding spatial orientation and body awareness.

Frontal Lobe

is the area of the brain responsible for voluntary movement, expressive language, and for managing higher level executive functions.