How many nodes are there at the end of a Cox-Ross-Rubinstein five-step binomial tree?
A. 4
B. 5
C. 6
D. 7
C
The number of nodes at the end of one time step is 2; the number of nodes at the end of two time steps is 3; and so on.
Business
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To start any business you must first have
A. investors. B. an idea. C. capital. D. employees. E. a business plan.
Business
The General Fund transfers $50,000 cash to the Debt Service Fund to meet annual interest payments. What entry did the Debt Service Fund prepare?
A) Debit Cash $50,000, Credit Revenue $50,000 B) Debit Cash $50,000, Credit Other Financing Sources-Transfer from General Fund $50,000 C) Debit Encumbrance $50,000, Credit Due to General Fund $50,000 D) Debit Appropriation $50,000, Credit Reserve for Encumbrance $50,000
Business