Narrative 11-1 Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Refer to Narrative 11-1. Omar invests $3,000 at 12% interest, compounded semiannually for 2 years. Calculate the effective
interest rate for his investment. (Round to nearest hundredth percent)
A) 10.80%
B) 12.36%
C) 9.65%
D) 12.52%
B
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Jorge has $150,000 of self-employment earnings from a sole proprietorship. Jorge's self-employment tax (rounded) for 2018 is
A. $20,272. B. $19,939. C. $22,950. D. $19,645.
Which of the following manufacturing industries would be most likely to employ a job order cost system of cost accounting?
a. Latex Paint b. Pharmaceutical c. Aircraft d. Cement
The statement of cash flows:
A) along with the balance sheet and income statement is prepared on the accrual basis. B) along with the balance sheet and statement of retained earnings is dated as of a specific date. C) along with the balance sheet is used to analyze liquidity. D) ties the balance sheet to the statement of retained earnings.
Any word, name, symbol, or device used in business to identify and promote a product is called a ______.
a. trademark b. copyright c. brand d. patent