When setting financial goals, you should typically start by setting:

A. short-term goals.
B. intermediate goals.
C. long-term goals.
D. goals that are not time-bound.
E. goals that are unrealistic.


Answer: C

Business

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Verilux Company sold merchandise to Flight Corp on November 1, 2014, for $10,000 . Verilux accepted a promissory note from Flight Corp for $10,000 . The note has a term of 5 months and a stated interest rate of 7%. Verilux's accounting period ends on December 31, 2014 . What amount should Verilux recognize as interest revenue on December 31, 2014?

a. $ -0- b. $ 116.67 c. $ 291.67 d. $ 280.00

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Answer the following statement true (T) or false (F)

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a. True b. False Indicate whether the statement is true or false

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a. TRUE b. FALSE

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