[The Following Information Applies to the Questions Displayed Below

question 79

Multiple Choice

[The following information applies to the questions displayed below.]

On January 1, Year 1, Niagara Corporation arranges a $6,000 line of credit with Centennial Bank. It accepted the bank's offer of 1% above the prime rate with interest payments on December 31 of each year. All borrowings and repayments are to take place on January 1 of each year.

-Niagara begins its loan transactions with Centennial Bank by borrowing $2,000 on January 1,Year 1.Which of the following shows the effect of this event on the elements of the financial statements?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Humanistic Psychology

An approach to psychology that emphasizes individual potential and stresses the importance of growth and self-actualization.

Metamotivation

A concept related to self-actualization, referring to the motivations of individuals who have surpassed their basic needs and strive for continuous growth and fulfillment.

Research Subjects

Individuals or groups that participate in scientific studies to provide data for analysis.

Extrinsic Motivation

Motivation that arises from external rewards or consequences rather than from the enjoyment of the task itself.