Given some amount to be received several years in the future, if the interest rate increases, the present value of the future amount will be:
A) Higher
B) Lower
C) Stay the same
D) Cannot tell
E) Variable
B
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Decorte Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data:Total direct labor-hours10,000Total fixed manufacturing overhead cost$33,000Variable manufacturing overhead per direct labor-hour$2.50Recently, Job K332 was completed with the following characteristics:Number of units in the job70Total direct labor-hours140Direct materials$455Direct labor cost$5,320The amount of overhead applied to Job K332 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $462 B. $350 C. $1,162 D. $812
[The following information applies to the questions displayed below.]The bank statement for Tetra Company contained the following items: a bank service charge of $10; a credit memo for interest earned, $15; and a $50 NSF check from a customer. The company had outstanding checks of $100 and a deposit in transit of $300.Which of the following will be caused by recording the customer's NSF check?
A. Accounts receivable increases and cash decreases. B. Accounts receivable increases. C. Cash decreases. D. stockholders' equity decreases.
The standard normal distribution has a mean and a standard deviation respectively equal to
A. 0 and 0. B. 1 and 1. C. 1 and 0. D. 0 and 1.
The Dodd-Frank Act creates the Financial Stability Oversight Council ("Council") to oversee financial institutions. Which of the following is NOT True?
a. Voting members consist of heads of the Treasury, Federal Reserve, OCC, SEC, CFTC, FDIC, FHFA, NCUA, and the Bureau of Consumer Financial Protection ("Bureau"), as well as an independent member with insurance expertise appointed by the President b. Require Federal Reserve supervision for nonbank financial companies that may pose risks to U.S. financial stability in the event of their material financial distress or failure c. Is shared by the President of the N.Y. Federal Reserve d. Is to promote market discipline by eliminating expectations of government bailouts