A series of equal payments in which the payment is made at the end of each period is a(n) ________

A) annuity due
B) ordinary annuity
C) prepaid annuity
D) beginning annuity

B

Business

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On November 1, Year 1, Pans on Fire, Inc., borrowed $100,000 cash on an 1-year, 6% note payable that requires Pan's on Fire to pay both principal and interest on October 31, Year 2. The last adjusting journal entry was made on December 31, Year 1, its year end. The entry to record the payment on October 31, Year 2 would include a ______.

a. debit to Interest Expense of $6,000 b. credit to Interest Payable of $6,000 c. credit to Cash of $106,000 d. debit to Interest Payable of $1,000 e. credit to Note Payable of $106,000 f. debit to Note Payable of $100,000 g. debit to Interest Expense of $5,000

Business

Identify the correct order of stages in the socialization process

A) encounter, metamorphosis, post-encounter B) prearrival, arrival, evaluation C) prearrival, arrival, post-arrival D) prearrival, encounter, metamorphosis E) metamorphosis, preencounter, arrival

Business