The Amount Charged for the Use of a Bank's Money

question 42

Multiple Choice

The amount charged for the use of a bank's money is called:

• A)Principal
• B)Interest
• C)Rate
• D)Time
• E)None of these

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Definitions:

Billing

The process of issuing invoices to customers for goods or services provided.

Fees Earned

Revenue generated from providing services.

Accounts Receivable

Accounts receivable is the balance of money due to a firm for goods delivered or services provided but not yet paid for by customers.

Bought Supplies

The action of acquiring supplies for a business or personal use, often recorded as an expense.