On June 1, Apex Co issued a $30,000, 8%, 120-day note payable to Jones Co Assume the fiscal year of Apex Co ends June 30 . What is the amount of interest expense recognized by Apex in the current year?

The tax shield on interest is calculated by multiplying the interest rate paid on debt by the principal

amount of the debt and the firm's marginal tax rate. Indicate whether the statement is true or false

What is the major difference between a vision and a mission statement?

A) A vision statement is an operational statement, whereas a mission statement is a strategic concept. B) Unlike a mission statement, a vision statement discusses the core values of the organization. C) A vision statement is a current description of purpose, whereas a mission statement is a futuristic projection. D) Unlike a vision statement, which is directed internally, a mission statement has the customer in mind. E) A mission statement, which is directed internally, has only the company in mind.