With Ordinary Time, a Loan Dated June 12 and Due

question 66

Multiple Choice

With ordinary time, a loan dated June 12 and due in 150 days should be paid on:

• A) October 12
• B) September 10
• C) September 12
• D) November 12

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Definitions:

Sales Forecast

A Sales Forecast is an estimate of the amount of sales a company expects to achieve over a specific period, based on market research, historical data, and other predictive methods.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, enabling effective cash management.

Capital Expenditure Budget

A budgeting plan for major investments in physical assets, such as buildings and equipment, that a company plans to acquire.

Budgeted Income Statement

A financial statement that projects a company’s expected revenues, expenses, and net income for a specific period, based on forecasts and strategic plans.