At December 31 year-end, Crain Corporation has an $8,400 note receivable from a customer. Interest of 10% has accrued for 10 months on the note. What will the income statement report in this situation?

A. Nothing because the business has not received cash yet
B. Note receivable of $8400
C. Interest revenue of $700
D. Both b and c

Ans: C. Interest revenue of $700

Business

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Synergy Corp. is large seller of energy-efficient bulbs that uses extensive promotional strategies to stimulate sales. Synergy has noticed that a competitor is doing well and is steadily gaining a large market share

The marketers at Synergy want to counter the competitor immediately by increasing the sales of its bulbs. What quick step can Synergy take to stimulate the sales of its products? a. Change the pricing strategy b. Adopt new production techniques c. Enter into new supplier contracts d. Adopt a divesting strategy

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OLAP is a tool that enables users to:

A) obtain online answers to ad hoc questions in a rapid amount of time. B) view both logical and physical views of data. C) quickly diagram data relationships. D) normalize data. E) find hidden patterns in large databases.

Business