A Company Issues a 60-Day,12% Note for $11,000

question 97

Multiple Choice

A company issues a 60-day,12% note for $11,000.What is the principal amount?

• A) $11,000
• B) $220
• C) $11,220
• D) $10,780

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Definitions:

Code of Ethics

A set of principles and guidelines designed to help professionals conduct their business honestly and with integrity.

Josephson Institute

An organization dedicated to improving the ethical quality of society by advocating for ethical practices in personal and professional contexts.

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Lawyers Misconduct

Unethical or illegal actions by a lawyer, including conflict of interest, fraud, or breach of confidentiality.