[The Following Information Applies to the Questions Displayed Below

question 6

Multiple Choice

[The following information applies to the questions displayed below.]
On November 1,Year 1,Noble Co.borrowed $80,000 from South Bank and signed a 12%,six-month note payable,all due at maturity.The interest on this loan is stated separately.
-How much must Noble pay South Bank on May 1,Year 2,when the note matures?

• A)$4,800
• B)$80,000.
• C)$89,600.
• D)$84,800.

---

Definitions:

Total Market Value

The aggregate valuation of a company, measured by multiplying its current share price by its total outstanding shares.

Cost Of Goods Sold

Costs directly linked to manufacturing goods that a company sells, comprising expenditures on materials and labor.

Inventory Turnover

A proportion indicating the frequency with which a business has sold its inventory and replenished it within a specific timeframe.

Current Liabilities

Financial obligations of a business that are due and payable within one year, including accounts payable, short-term debt, and other short-term obligations.