A Six-Month Note Receivable for $4,000 at 12% Dated September

question 48

Multiple Choice

A six-month note receivable for $4,000 at 12% dated September 1,2011,has accrued interest revenue of ________ on December 31,2011.

• A) $480
• B) $240
• C) $160
• D) $80

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Definitions:

Proper Way

Indicates the correct or socially accepted manner of doing something.

Philosophical Understanding

The comprehensive knowledge or insight into topics related to philosophy, embracing concepts, theories, and foundational principles.

Practical Wisdom

Practical wisdom, also known as phronesis, involves the ability to judge the appropriate action in difficult situations informed by moral virtues.

Tranquility

A state of peace and calm.