The Approximate Time That It Takes a Deposit to Double

question 13

Multiple Choice

The approximate time that it takes a deposit to double at a certain interest rate is calculated by dividing the annual interest rate into the number

• A) 36.
• B) 48.
• C) 72.
• D) 100.

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Definitions:

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership stake of the owners.

Revenues

The total income generated from normal business operations and other activities over a specific time period.

Expenses

The costs incurred in the process of generating revenue, including operational, administrative, and sales costs.

Debits

In accounting, an entry made on the left side of an account, increasing asset or expense accounts, or decreasing liability, equity, or revenue accounts.