Find the Missing Values, Assuming Simple Interest }">$\text { cellpadding }=" 0 " \text { cellspacing="0" width }=" 69 \% \text { " border="1"> }$

question 77

Multiple Choice

Find the missing values, assuming simple interest. }">$\text { cellpadding }=" 0 " \text { cellspacing="0" width }=" 69 \% \text { " border="1"> }$

$\begin{array}{ccccc}I & P & r & t & \text { Future } \\\text { Interest } & \text { Principal } & \text { Rate } & \text { Time } & \text { Value }\end{array}$

• A) \(\$ 1,800 ; \$ 11,800\)
• B) \(\$ 18,000 ; \$ 28,000\)
• C) \(\$ 111 ; \$ 10,111\)
• D) \(\$ 1,111 ; \$ 11,111\)
• E) \(\$ 1,800 ; \$ 1,800\)

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Definitions:

Pension Expense

The cost recognized by an employer for the estimated liabilities of pension payments to retirees.

Salaries Expense

The cost incurred by a company to pay for employee services performed during a period.

Time Card

A record of the amount of an employee's time spent on different jobs, typically used for payroll purposes.

Internal Control

A system implemented by a company to ensure the integrity of financial and accounting information, promote accountability and prevent fraud.