An ordinary annuity may be defined as:
A) A series of equal payments made at regular intervals that are paid at the beginning of each period.
B) A series of payments, which may or may not be equal in value, that are received at regular intervals at the end of each period.
C) A series of equal payments made any time over the course of a year, extending for a period of several years.
D) Any series of payments that occur in the future.
E) A series of equal payments made at regular intervals that are received at the end of each period.
E
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Materials used in the manufacturing process that do not become a significant part of the finished products are called
a. indirect materials. b. operating expenses. c. direct materials. d. administrative expenses.
In 2016, its first year of operations, Wilber Company reported pretax accounting income of $60,000. Included in the $60,000 was an expense for accrued, unpaid warranty costs of $8,000, which are not deductible until paid for income tax purposes. Wilber's income tax rate was 20%. The entry to record the income tax expense would include a
A) credit to Income Tax Expense for $12,000. B) credit to Income Taxes Payable for $12,000. C) credit to Deferred Tax Liability for $1,600. D) debit to Deferred Tax Asset for $1,600.
Which of the following statements is not true when considering and evaluating store locations?
A. It is important to consider local and state legal and regulatory environments affecting operating costs. B. It is important to have the strategic fit of the areas' population with the retailer's target market. C. It is important to examine an area's level and growth of population and employment and how long such growth will continue and how it will affect demand for merchandise sold in its stores. D. The best areas for locating stores are those that generate the highest return on investment in the short term.
Legal capital of a corporation is the maximum amount that can be reported as contributed capital
Indicate whether the statement is true or false