When Calculating the Interest on a Note Receivable 365 Days

question 97

Multiple Choice

When calculating the interest on a note receivable 365 days instead of 360 days was used.This error would cause:

• A)the period end assets to be overstated.
• B)the period end liabilities to be understated.
• C)the period's net income to be overstated.
• D)the period's net income to be understated.

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Definitions:

Radial Pulse

A measurement of the heart rate obtained by palpating the radial artery at the wrist.

Amplitude

The height or strength of a wave signal, which in various contexts can represent volume, intensity, or power.

Tympanic Membrane Thermometer

A device used to measure body temperature by detecting the heat emissions from the eardrum or tympanic membrane.

Uncooperative

Describes a behavior or attitude characterized by reluctance or refusal to participate or comply with requests or instructions.