A firm issued three-month commercial paper with a $2,000,000 face value and received $1,964,000. The effective annual rate that this firm is paying is closest to ________

The balance of an unearned revenue account:

A. Appears in the balance sheet as a component of owners' equity. B. Appears in the income statement along with other revenue accounts. C. Appears in a separate section of the income statement for revenue not yet earned. D. Appears in the liability section of the balance sheet.

A new or an existing company may be financed by:

a. debt only by law b. U.S. Treasury bonds c. equity only by law d. debt and equity e. debt and equity and U.S. Treasury bonds