Jimmy Is an Adoptive Child

question 32

Multiple Choice

Jimmy is an adoptive child. Before his adoption was finalized, he was returned to the agency that handled his case. This reflects which of the following?

• A) private adoption
• B) dissolved adoption
• C) disrupted adoption
• D) closed adoption

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Definitions:

Interest

The charge for borrowing money or the compensation for lending money, typically calculated as a percentage of the principal amount.

Note Receivable

A promissory note held by the lender, stating the money due to be paid back by the debtor.

Maturity

Maturity in finance refers to the date on which the principal or final payment of a loan, bond, or other financial instrument is due to be paid in full.

Percent of Sales Method

A financial forecasting model used to estimate certain balance sheet and income statement figures based on projected sales revenue.