On December 1, Victoria Company signed a 90-day, 7% note payable, with a face value of $6000. What amount of interest expense is accrued at December 31 on the note? (Use 360 days a year.)
A. $105
B. $35
C. $420
D. $70
E. $0
Answer: B
You might also like to view...
Two Acme Global workers got into an argument about whose turn it was to clean up the work station. The argument escalated into a fight that damaged the work station and injured both workers. The manager disciplined both workers, giving one a 2-day suspension and the other a 4-day suspension. The manager’s actions violated the ______ part of the OUCH test.
A. objective B. uniform in application C. consistent in effect D. has job relatedness
To approximate and compare the relative impact of media decisions, media planners use ________
A) media engagement B) ad traffic plans C) impressions D) gross rating points E) circulation
The product cost concept formula for the markup percentage is ________
a. Total costs / Desired profit b. Total fixed costs / Total variable costs c. Total variable costs / Total fixed costs d. Desired profit plus total selling and administrative costs / Total product costs
______ is a qualitative method that attempts to eliminate or minimize the problem of bias in the opinion of a single expert using a panel of experts to generate forecasts.
A. Expert opinion B. Sales force opinion C. Market research D. The Delphi method