Find the Time (In Years) Necessary for 1,000 to Double

question 1

Multiple Choice

Find the time (in years) necessary for 1,000 to double if it is invested at a rate 6% compounded continuously. Round your answer to two decimal places.

• A)1.16 years
• B)11.55 years
• C)1.39 years
• D)11.90 years
• E)11.58 years

Understand the taxation and liability structure for different types of business entities.

Recognize the process and requirements for a business operating in multiple states.

Comprehend the components and legal implications of franchising.

Identify the responsibilities and liabilities of partners in a partnership.

---

Definitions:

Net Sales

The total revenue from sales after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Accounts Receivable Turnover

A financial metric that measures how often a company collects its average accounts receivable within a specified period, indicating the efficiency of credit and collections.

Total Sales

The aggregate revenue a company generates from selling its goods or services within a specific period.

Direct Write-off Method

A method of accounting for bad debts where specific uncollectible accounts receivable are directly written off against income at the time they are deemed to be uncollectible.