The Following Are Selected Current Month's Balances for Morgan, Inc

question 12

Multiple Choice

The following are selected current month's balances for Morgan, Inc. $$\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 9,000 \\\hline \text { Revenue } & 11,000 \\\hline \text { Cash } & 3,150 \\\hline \text { Expenses } & 1,600 \\\hline \text { Furniture } & 13,000 \\\hline \text { Accounts Receivable } & 16,000 \\\hline \text { Common Stock } & 7,250 \\\hline \text { Notes Payable } & 6,500 \\\hline\end{array}$$ Based on this information, calculate the total amount of credits for the trial balance.

• A) $26,500
• B) $22,750
• C) $24,750
• D) $33,750

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Definitions:

Technological Improvements

Enhancements or advancements in technology that increase productivity or efficiency in processes, products, or services.

Production Inefficiencies

Situations where resources are not used in the most productive way, leading to wastage and a lower output than potentially achievable.

Technological Breakthrough

A significant advancement in technology that dramatically changes the production process or market for goods and services, often leading to efficiency improvements and new opportunities.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.