You currently have an ARM that is charging you 7% with an index rate of 4%, a margin of 3%, and a periodic annual cap of 3.0%. Assume that rates have now increased by 2% during the last seven months. What rate will your ARM be adjusted to?
A) will remain at 7% fixed rate
B) 8%
C) 9%
D) 10%
E) 11%
Answer: C
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Answer the following statements true (T) or false (F)
An event, as defined in SFAC No. 6, is “a happening of consequence to an entity.”
Tactical plans
A. spell out in detail how objectives will be reached. B. are less specific than strategic plans. C. are broad guidelines to assist in handling recurring problems. D. are fairly broad compared to strategic plans. E. are the basis for creating a company's mission statement.
Changes in retained earnings are commonly reported in the:
A. Single-step income statement. B. Multiple-step income statement. C. Statement of stockholders' equity. D. Balance sheet. E. Statement of cash flows.
What is often referred to as the “normal” variation of a system?
a. Minimum variation b. Maximum variation c. Random variation d. Frequent variation