If interest rates rise,
A. the future value of a dollar declines.
B. the present value of a dollar rises.
C. the present value of an annuity falls.
D. the future value of an annuity falls.
Answer: C
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If the balance on the bank statement does not equal the balance in the cash account, then it can be assumed that:
a. The company has no errors in its records concerning the cash account. b. The bank has made errors in preparing the statement. c. The company has made errors in is records concerning the cash account. d. There will be items reconciling the difference.
Deferred taxes are caused by using different accounting methods for tax and financial reporting purposes
Indicate whether the statement is true or false
Identify the technique used by the salesperson who neither denies, answers, nor ignores the objection.
A. Rephrasing B. Boomerang C. Forestall D. Dodge E. Compensation
Which of the following accounting changes requires an emphasis-of-matter paragraph regarding consistency in a nonpublic company auditors' report?
A. A change in calculating bad debt expense from one percent to two percent of credit sales. B. A change from the straight-line method of depreciation to an accelerated method for a class of fixed assets. C. A change in the estimated useful lives of a class of fixed assets. D. A write-off of a patent because future benefits do not appear to exist.