If the rate of interest (r) is 8%, then you should be indifferent about receiving $500.00 today or ________
A) $462.96 in one year
B) $500.00 in one year
C) $540.00 in one year
D) None of the above
Answer: C
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Indicate whether this statement is true or false.
Which of the following account titles are not allowed under GAAP??
A) ?Revaluation reserves B) ?Provisions C) ?Capital D) ?Revaluation reserves and provisions
A company issued 7%, 5-year bonds with a par value of $100,000. The market rate when the bonds were issued was 7.5%. The company received $97,947 cash for the bonds. Using the effective interest method, the amount of interest expense for the first semiannual interest period is:
A. $3,673.01. B. $3,705.30. C. $3,500.00. D. $7,346.03. E. $7,000.00.
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