Southwestern Bank offers to lend you $50,000 at a nominal rate of 6.5%, compounded monthly. The loan (principal plus interest) must be repaid at the end of the year. Woodburn Bank also offers to lend you the $50,000, but it will charge an annual rate of 7.0%, with no interest due until the end of the year. How much higher or lower is the effective annual rate charged by Woodburn versus the rate charged by Southwestern?
A. 0.52%
B. 0.44%
C. 0.36%
D. 0.30%
E. 0.24%
Answer: D
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The AP/CD process handles the repetitive work routines of:
a. cashier b. purchasing c. Receiving d. all of the above
If a company's free cash flow is $90,000, net cash flows from operating activities total $220,000, purchases of plant assets total $100,000, and sales of plant assets total zero, what amount is committed to dividends?
A) $20,000 B) $30,000 C) $60,000 D) Impossible to determine from the facts given.
Malcolm Obrien was asked by Theresa Cho to be a director of her company. Malcolm agreed, but apart from accepting the title of director he had no idea what was going on in the business. There were never any formal board of directors meetings
The business went bankrupt and Revenue Canada sued Malcolm for $10,000 for income tax withheld by the company from employee wages but not remitted. The money was used to try to keep the business afloat. The employees are also suing for five months' unpaid wages. Which of the following is true? A) Malcolm is not liable for either claim as he had no involvement with the business. B) Malcolm is not liable for the Revenue Canada claim as he didn't receive any of the money personally. C) Malcolm is liable for the wage claim D) Malcolm is liable for the Revenue Canada claim. E) Both C and D
When purchasing a mobile phone, the product you are buying is more than just the phone.
Answer the following statement true (T) or false (F)