The present value of $30,000 to be received in two years, at 12% compounded annually, is (rounded to nearest dollar)
A) $23,916
B) $37,632
C) $23,700
D) $30,000
A
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Indicate whether the statement is true or false.
Dollar-value LIFO uses
A) current cost only B) cost indexes only C) current cost and cost indexes D) numerous detailed records from either a physical count or perpetual records
The United States is comprised largely of immigrants who have worked intently at retaining their traditional customs and language while still sharing in the common culture. Which of the following terms best describes this situation?
a. Melting pot b. Internationalization c. Mosaic d. Globalization
George Burton owned two lots, A and B. Lot A he owned as tenants in common with his wife, Agnes, and Lot B they owned in joint tenancy. George signed an instrument allowing his son, Edward, to use Lot A for the rest of his (Edward's) life
George left his interest in Lot B to his other son, Cedric, in his will. Which of the following is TRUE? A) Edward has a life estate and George and Agnes the remainder of the fee simple in Lot A. B) If George dies before Agnes, Agnes will become the sole owner of Lot B. C) If George dies before Agnes, Agnes and Cedric will become tenants in common of Lot B. D) both A and B E) both A and C