[The Following Information Applies to the Questions Displayed Below

question 104

Multiple Choice

[The following information applies to the questions displayed below.]
The following transactions occurred during March,the first month of operations for Quality Galleries,Inc.:
* Capital stock was issued in exchange for $360,000 cash.
* Purchased $180,000 of equipment by making a $60,000 cash down payment and signing a note payable for the balance.
* Made a $35,000 cash payment on the note payable from the purchase of equipment.
* Sold a piece of equipment for cash of $18,000.The equipment was sold at cost,so there is no gain or loss on the sale.
-What is the balance in the Note Payable account at the end of March?

• A)$120,000
• B)$85,000
• C)$35,000
• D)$155,000

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Definitions:

Attribution Theory

A psychological concept that explains how individuals attribute causes and effects to behaviors or events, examining the cognitive process behind these explanations.

Dispositional Attribution

The tendency to attribute someone's behavior to their personality or character rather than to situational factors.

Situational Attribution

The process of attributing a person's behavior to external circumstances or situational factors rather than to internal traits or motivations.

Abu Ghraib Prison

A notorious prison in Iraq where, in 2004, reports emerged detailing the abuse and torture of detainees by U.S. military personnel.