On November 2, Paul Matthews Signed a 120 Day, $75,000 $13 \frac { 1 } { 4 } \%$

question 39

Short Answer

On November 2, Paul Matthews signed a 120 day, $75,000 simple discount promissory note at the Northridge Savings Bank. The discount rate was $13 \frac { 1 } { 4 } \%$ ordinary interest. What proceeds will Paul receive on the note?

Distinguish between voluntary response sampling and convenience sampling.

Understand the importance of pilot testing in survey design.

Recognize the differences in sampling for demographic versus opinion surveys.

Understand the process and importance of obtaining a representative sample.

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Definitions:

Internally Generated Goodwill

The increase in value of a business due to factors like reputation, brand, customer base, and relationships that are developed internally over time and not acquired or purchased.

Intangible Asset

An asset that lacks physical substance and usually represents legal rights or competitive advantages (e.g., patents, trademarks, copyrights).

Office Building

A structure designed for the operations of businesses, providing workspaces and offices for use by employees and management.

Patent Amortization

The gradual expense recognition of the cost of a patent over its useful life, reflecting the consumption of the patent's economic benefits.