If the Notes Payable Balance Is $25,000, Then the Total

question 134

Multiple Choice

If the Notes Payable balance is $25,000, then the total assets of Gordon, Inc. at December 31, 2011 amount to:

• A) $27,500.
• B) $152,500.
• C) $120,000.
• D) $165,000.

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Definitions:

Official Statistics

Data collected and published by government agencies or other official organizations.

Median

The middle value in a data set, where half the numbers are lower and half are higher.

Mean

In mathematics, the average or central value of a set of numbers, calculated by dividing the sum of the values in the set by the number of values.

Correlation Coefficient

A statistical measure that indicates the extent to which two variables change together, showing the strength and direction of their relationship.