Which of the following is a distinguishing characteristic of proprietary funds?
a. they recognize revenues when they are measurable and available
b. they always earn sufficient revenues to cover their expenses
c. they charge fees for the services they provide
d. they are legally prohibited from selling services to other governmental agencies
c
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The National Labor Relations Board is an administrative body that prevents union members from engaging in illegal labor practices
Indicate whether the statement is true or false
Randy W. recently won the Western States Lottery of $6,500,000. The lottery pays either a total of twenty $325,000 payments per year with the first payment today (i.e., an annuity due), or $3,500,000 today
At what interest rate would Randy be financially indifferent between these two payout choices? A) 5.37% B) 7.36% C) 7.76% D) 8.00%