Find the Due Date for a Loan Made on September

question 26

Multiple Choice

Find the due date for a loan made on September 14 for 90 days.

• A) January 15
• B) December 15
• C) December 13
• D) December 14

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Definitions:

Pension Expense

The cost recognized in an employer's financial statements for the benefits provided to employees during a period.

Defined Contribution

A type of retirement plan where the amount invested is defined, but the future benefits are not guaranteed and depend on investment performance.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB).

Discount Rate

The rate of interest applied in discounted cash flow analysis to calculate the present value of forthcoming cash flows.