In general, the effective rate of interest on a discount loan
a. is lower than that on standard loan
b. is higher than that on a standard loan
c. is identical to that on a standard loan
d. none of the above
Ans: b. is higher than that on a standard loan
Business
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Transactions are first recorded in the general ledger and then posted to the journal
Indicate whether the statement is true or false
Business
Which of the following can be a reason for a favorable price variance for direct materials?
A) a decrease in the price of materials due to an oversupply of materials B) an unexpected increase in the price of materials C) less amount of material used during production than planned for actual output D) workers taking less time to produce the products
Business