Exhibit 14-16 Harry's Inc issued a four-year, $75,000, non-interest-bearing note to a customer on January 1, 2016. Harry also agrees to sell inventory to the customer at reduced rates over a five-year period. Sales are to be evenly spread over the five-year period. Harry's incremental interest rate is 8%, and the present value of the note is $55,125. ? Refer to Exhibit 14-16. Harry's total
liabilities after recording the note have increased by
A) $19,875.
B) $75,000.
C) $55,125.
D) $81,000.
B
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Indicate whether the statement is true or false
Determining if the decision would be considered fair by those affected by it is called
a. Transparency b. Effect c. Fairness d. Equal
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Members of an LLC (limited liability company) have ________ liability
A) limited B) unlimited personal C) unlimited capital D) strict