On December 1, Victoria Company signed a 90-day, 8% note payable, with a face value of $9000. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.)
A. $0
B. $720
C. $120
D. $60
E. $180
Answer: D
You might also like to view...
Sony entered into a strategic partnership with Samsung in order to produce flat-panel TV screens due to the high product development costs
Indicate whether the statement is true or false
Which of the following statements is true about the business scenario in the Middle East?
A) Business decisions are usually made by correspondence. B) Well-connected businesspeople generally progress faster. C) Business in the Middle East is driven by the price of gold. D) Arab businessmen are known for never entertaining any sort of haggling.
Which of the following is the correct formula for measuring a cost variance?
A) Cost Variance = (Actual Cost + Standard Cost) / Actual Quantity B) Cost Variance = (Actual Cost - Standard Cost) × Actual Quantity C) Cost Variance = (Actual Cost + Standard Cost) + Actual Quantity D) Cost Variance = (Actual Cost - Standard Cost) - Actual Quantity
The purpose of the promotional mix is to
A) inform, persuade, and remind consumers about products. B) help manufacturers design product packaging. C) provide pricing information to sales outlets. D) permit marketers to establish channels of distribution. E) allow advertisers to bypass product research and development.