Based on the Following Information,determine the Current Assets,assuming All Accounts

question 8

Multiple Choice

Based on the following information,determine the current assets,assuming all accounts have a normal balance?
$\begin{array}{lrlr}\text { Cash } & \$ 6,754 & \text { Dividends } & \$ 2,000 \\\text { Accounts receivable } & 13,733 & \text { Consulting fees earned } & 13,718 \\\text { Office supplies } & 2,625 & \text { Rent expense } & 3,673 \\\text { Land } & 37,153 & \text { Salaries expense } & 6,642 \\\text { Office equipment } & 14,535 & \text { Telephone expense } & 560 \\\text { Accounts payable } & 6,463 & \text { Miscellaneous expense } & 280 \\\text { Common stock } & 54,490 & \text { Retained earnings } & ?\end{array}$

• A) $74,800
• B) $37,647
• C) $60,265
• D) $23,112
• E) $60,953

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Definitions:

Fixed-Ratio

In behavioral psychology, a schedule of reinforcement where a response is reinforced only after a specified number of responses.

Train

A series of connected vehicles traveling on railways, used for transporting people or cargo.

Biscuit

A small baked product that varies in texture and taste based on geography, ranging from hard and flat to soft and flaky.

Positive Punishment

The presentation of a stimulus following a given behavior in order to decrease the frequency of that behavior.