Interest on a six-month, 7 percent, $2,000 note is calculated by multiplying $2,000 ? 7/100 ? 6/12
Indicate whether the statement is true or false
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The journal entry used to record the issuance of a discounted note for the purpose of borrowing funds for thebusiness is
a. debit Cash and Interest Expense; credit Notes Payable b. debit Cash and Interest Payable; credit Notes Payable c. debit Accounts Payable; credit Notes Payable d. debit Notes Payable; credit Cash
Questionnaire organization is important because the questionnaire's appearance and the ease with which respondents complete the questions have the potential to affect the quality of the data collected
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Which of the following is true about the northwest corner rule?
a. It generates neither feasible solutions nor optimum least-cost solutions. b. It generates both feasible solutions and optimum least-cost solutions. c. It generates feasible solutions but not necessarily optimum least-cost solutions. d. It generates optimum least-cost solutions but not necessarily feasible solutions.
The annual percentage yield (APY) is the effective rate of interest that must be disclosed to customers by banks on their savings products as a result of "truth in savings laws."
Indicate whether the statement is true or false