The fact that an English word such as blue-jeans has entered the Spanish language, while a Spanish word such as macho has come into American English illustrates that ________

Which of the following statements about audit evidence is true?

a. To be appropriate, audit evidence should be either persuasive or relevant but need not be both b. The sufficiency and appropriateness of audit evidence is a matter of professional judgment c. The difficulty and expense of obtaining audit evidence about an account balance is a valid basis for omitting the test d. A client's accounting records can be sufficient audit evidence to support the financial statements

Michigan Manufacturing Inc. (MM) has a new project that will require the company to borrow $1,000,000. MM has made an agreement with three lenders for the needed financing

First National Bank will give $500,000 and wants 9% interest on the loan. Key West Bank will give $300,000 and wants 11% interest on the loan. Chase Bank will give $200,000 and wants 12% interest on the loan. What is the weighted average cost of capital for this $1,000,000? A) 10.67% B) 10.20% C) 10.00% D) 9.67%