Simple Interest Is Interest Earned on the Investment's Principal and Interest

question 73

True/False

Simple interest is interest earned on the investment's principal and interest.

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Definitions:

Expenses

The economic costs that a business incurs through its operations to earn revenue.

Accrued Fees

Accrued fees are charges earned or incurred that have not yet been received or paid, respectively, and are recognized in the accounting period they are earned.

Accounts Payable

Liabilities or money owed by a business to its suppliers or creditors for goods and services purchased on credit.

Accounts Receivable

The money owed to a business by its customers for goods or services delivered on credit but not yet paid for.