Branch Company, a Building Materials Supplier, Has $18,000,000 of Notes

question 67

Multiple Choice

Branch Company, a building materials supplier, has $18,000,000 of notes payable due April 12, 2014. At December 31, 2013, Branch signed an agreement with First Bank to borrow up to $18,000,000 to refinance the notes on a long-term basis. The agreement specified that borrowings would not exceed 75% of the value of the collateral that Branch provided. At the date of issue of the December 31, 2013, financial statements, the value of Branch's collateral was $20,000,000. On its December 31, 2013, balance sheet, Branch should classify the notes as follows:

• A)$15,000,000 long-term and $3,000,000 current liabilities.
• B)$4,500,000 short-term and $13,500,000 current liabilities.
• C)$18,000,000 of current liabilities.
• D)$18,000,000 of long-term liabilities.

Understand the concept of outcomes within the ecological systems model, illustrating equifinality and multifinality.

Identify and explain the roles of different systems in achieving social work objectives.

Understand the relationship between real and nominal interest rates and inflation.

Analyze the impact of interest rates on savings and investment decisions.

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Definitions:

Dysfunctional Behaviour

Behaviors that are counterproductive or impair an individual's ability to function effectively in daily life.

Psychological Disorder

A specific manifestation of mental illness as described by some set of criteria established by a panel of experts.

Neurotransmitter Activity

The action of chemicals in the brain that transmit signals across synapses between neurons.