The Balances of Select Accounts of McMurray Company as of December

question 199

Multiple Choice

The balances of select accounts of McMurray Company as of December 31,2018 are given below: $$\begin{array} { | l | r | } \hline \text { Notes Payable-short-term } & \$ 1,500 \\\hline \text { Salaries Payable } & 3,000 \\\hline \text { Notes Payable-long-term } & 23,000 \\\hline \text { Accounts Payable } & 3,000 \\\hline \text { Unearned Revenue } & 3,000 \\\hline \text { Interest Payable } & 2,400 \\\hline\end{array}$$ The Unearned Revenue is the amount of cash received for services to be rendered in January 2019.Interest Payable will be paid on February 5,2019.What are the total long-term liabilities shown on the balance sheet at December 31,2018?

• A) $1,500
• B) $3,000
• C) $6,000
• D) $23,000

---

Definitions:

Cohen's D

A measure of effect size that indicates the standardized difference between two means.

Type I Error

Occurs when a true null hypothesis is incorrectly rejected, signifying a false positive in hypothesis testing.

Correlation Coefficients

Numerical measures that describe the strength and direction of a relationship between two variables.

Variable(s)

Elements, characteristics, or conditions that can change or vary within a study or experiment.