When $10,000 of Inventory Is Purchased with a Three-Month Note

question 10

Multiple Choice

When $10,000 of inventory is purchased with a three-month note payable bearing 2% interest,the inventory has a total cost of

• A)$10,200.
• B)$10,000.
• C)$10,100.
• D)$9,900.

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Definitions:

Zygomaticus

A muscle of the face, which draws the angle of the mouth superiorly and posteriorly to allow for smiling.

Temporalis

A muscle located on the side of the skull that is involved in chewing and jaw movement.

Buccinator

A muscle of the cheek that helps in mastication by pushing food onto the molars and is also involved in facial expression.

Masseter

A facial muscle that plays a major role in the chewing of solid foods, one of the strongest muscles in the human body.