To compute interest expense for an adjusting entry, the formula is (principal X annual rate X a fraction). The numerator and denominator of the fraction are:
a. Length of time note has been outstanding (12 months)
b. Length of note (12 months)
c.Length of time until note matures (Length of note)
d.Length of time note has been outstanding (Length of note)
Ans: a. Length of time note has been outstanding (12 months)
Business
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Indicate whether the statement is true or false
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A distinguishing characteristic of a team is that the members
a. have complementary skills. b. enjoy working with each other. c. perceive themselves to be a group. d. rely on the team leader for major decisions.
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