Assuming the APR on your credit card is 24 percent and your average daily balance this month was $8,000, what will your interest or finance charges for the month be?
A) $1.92
B) $240
C) $192
D) $160
Answer: D
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The contribution margin approach helps managers in short-term decision making because it ________.
A) treats fixed manufacturing overhead as product costs B) reports only mixed costs C) reports costs and revenues at present value D) isolates costs by behavior
When a company provides superior value by leading its industry in price and convenience, it has obtained ________
A) product leadership B) focus C) operational excellence D) customer intimacy E) differentiation
A firm using FIFO had a beginning inventory of $48,000, an ending inventory of $56,000, and a pretax income of $400,000 . If it had used LIFO, its beginning inventory would have been $20,000, and its ending inventory would have been $16,000 . From the information provided, one can conclude that:
a. quantities increased and prices decreased. b. quantities decreased and prices increased. c. prices increased but we cannot conclude what happened to quantities. d. quantities decreased but we cannot conclude what happened to prices. e. not enough information to reach a conclusion.
Inventory costs include carrying, ordering, and shortage costs
Indicate whether this statement is true or false.