You just bought a car and borrowed $15,000 for 5 years at 8% APR. Using the simple interest method; by the time you pay off this loan your total finance costs will be closest to which of the following?
A) $6,000
B) $3,249
C) $3,784
D) $1,200
Answer: B
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Using the department allocation method, a company establishes a separate overhead allocation rate for each department.
Answer the following statement true (T) or false (F)
The 20% shown for net income in 2019 signifies that net income ________.
The vertical analysis of the income statement of Settler, Inc. is as shown below:
A) is 20% of net sales revenues
B) increased by 20% over the previous year
C) is 20% of gross profit
D) equals 20 times of the income before income tax
Some service desk managers recommend that analysts take a quick look in the mirror before they answer the phone to ensure that they have a relaxed and pleasant facial expression.
Answer the following statement true (T) or false (F)
Activity-based costing is appropriate for a company that has low overhead costs that are proportional to the unit volumes of products
Indicate whether the statement is true or false