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question 52

Multiple Choice

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Definitions:

Investment

Refers to the act of allocating resources, usually money, with the expectation of generating an income or profit.

Installment Note

A loan that requires regular payments, or installments, which cover both principal and interest over a set period of time.

Journal Entries

Records of financial transactions in the accounting system, ensuring each transaction is accurately logged.

Interest

The charge for borrowing money or the income earned on deposited funds.