ABC Company Signed a One-Year $12,000 Note Payable at 8

question 92

Essay

ABC Company signed a one-year $12,000 note payable at 8% interest on May 1,2012.If ABC only adjusts their accounts once a year at year-end,how much interest expense must be accrued on December 31,2012?
A) $960.
B) $320.
C) $640.
D) $474.

• A) $960.
• B) $320.
• C) $640.
• D) $474.

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Definitions:

Prejudices

Preconceived opinions or judgments toward people, objects, or situations based on stereotypes, without sufficient knowledge or examination.

Concealment

The act of hiding something or preventing it from being known.

Experience Of Prejudice

The undergoing or encountering of negative judgments or discriminatory actions based on preconceived notions or biases.

Rejection Identification Theory

A psychological framework suggesting that people can bolster their self-esteem by identifying more closely with their own marginalized or minority group following rejection from a dominant group.