Open-end funds sometimes sell at a discount
Indicate whether the statement is true or false.
FALSE
Business
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For June, Gold Corp. estimated sales revenue at $600,000. It pays sales commissions that are 4% of sales. The sales manager's salary is $285,000, estimated shipping expenses total 1% of sales, and miscellaneous selling expenses are $15,000. How much are budgeted selling expenses for the month of July if sales are expected to be $540,000?
a) $327,000 b) $27,000 c) $42,000 d) $330,000
Business
Which of the following BEST describes payments on a term loan (straight loan)?
A. Amortized B. Adjustable. C. Interest only. D. Interest and principal.
Business