Is a Logical Function That Returns One Value If the Condition

question 10

Multiple Choice

is a logical function that returns one value if the condition is true and another if the condition is false.

• A) ORcondition 1, condition 2…)
• B) ANDcondition 1, condition 2…)
• C) TOvalue if true, value if false)
• D) IFcondition, value if true, value if false)

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Definitions:

Interest Revenue

Income earned by an entity from lending money or investing in interest-bearing financial instruments.

Unearned Interest

Interest that has been collected on a loan by a lender but not yet earned because the loan principal has not been fully disbursed.

Bargain Purchase Option

A clause in a lease agreement allowing the lessee to purchase the leased asset at the end of the lease term at a price significantly below its expected fair market value.

Executory Costs

Expenses related to executing a contract, such as maintenance and insurance costs, that are typically incurred over the contract's term.