Utah CoSold Merchandise to Big Sky Corp

question 120

Multiple Choice

Utah Co.sold merchandise to Big Sky Corp.on December 1, 2016, for $9,000, and accepted a promissory note for payment in the same amount.The note has a term of 90 days and a stated interest rate of 8%.Utah's accounting period ends on December 31. What is the actual maturity date of the note?

• A) December 31, 2016
• B) January 29, 2017
• C) February 28, 2017
• D) March 1, 2017

Understand the social, political, and economic trends of the late 20th century in the United States.

Analyze the ideological origins and impact of neoconservatism in America.

Recognize the roles and backgrounds of key political figures such as Ronald Reagan.

Evaluate the effects of U.S. foreign policies during the Carter and Reagan administrations.

---

Definitions:

Equilibrium Level Of Saving

The point at which the amount households save equals the amount they invest, resulting in a balance within the economy's financial resources.

U.S. Government Debt

The total amount of money that the United States federal government owes to creditors, including both public debt and intra-governmental obligations.

Budget Deficit

An economic situation where a government's expenditures exceed its revenue over a specified period of time, leading to borrowing or money printing.

Deficit Financing

The practice of funding government spending by borrowing rather than from taxation, leading to a budget deficit.