The Following Statement Will Declare an Array

question 31

Multiple Choice

The following statement will declare an array.What is the index value for the first element? Dim lakes(5)

• A)0
• B)1
• C)4
• D)5

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds, represented as an expense on the income statement, affecting net income.

Adjusting Entry

Journal entries made at the end of an accounting period to update income and expense accounts so that the income statement reflects the revenues earned and expenses incurred during the period.

Interest-Bearing Note

A debt security that pays interest to the holder at regular intervals until maturity, at which point the principal is repaid.

Proceeds

The total amount of money received from a transaction before any deductions are made.