On October 1, 2015, Android Inc

question 44

Multiple Choice

On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. How much interest revenue did the company record in the year 2016 for this note?

• A)$2,150
• B)$3,750
• C)$1,250
• D)$5,000

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Definitions:

Evaluating Services

The process of assessing the quality, effectiveness, and satisfaction of services provided to customers.

Difficulty

The level of challenge or effort required to complete a task or overcome a problem.

Tangible

A term used to describe physical items that can be seen, touched, and usually, valued, such as machinery, buildings, or products.

Assess

To evaluate or estimate the nature, ability, or quality of something.