The present value of $5,000 to be received in 4 years at a market rate of interest of 6% compounded annually is$3,636.30
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
When all of the cash for an account previously written off under the direct write-off method is unexpectedly collected, the correct entry is
a. debit Bad Debt Expense and credit Accounts Receivable. b. debit Accounts Receivable and credit Bad Debt Expense. c. debit Cash and credit Accounts Receivable. d. dependent on the period in which the cash was collected.
Which of the following parties has the responsibility for designing and maintaining policies and procedures to identify, evaluate, and account for contingencies?
a. Management. b. The auditor. c. The audit committee. d. The client's attorney.
Wages Payable were $350 at the end of October and $280 at the end of November. Wages Expense for November was $1,800 . How much cash was paid for wages during November?
a. $1,730 b. $2,430 c. $1,870 d. $1,170
Avon is successful at giving customers alternatives to traditional store outlets. Avon uses ________, which does NOT require a customer to visit a store
A) locational merchandising B) social shopping C) mass retailing D) nonstore retailing E) broad geographic exchange