Use the Information Below to Answer the Following Question(s)

question 101

Multiple Choice

Use the information below to answer the following question(s) .Ontario Industries Inc.had the following activities during the year:

-What is the amount of direct materials used by Ontario Industries Inc.?

• A)$168,000
• B)$165,000
• C)$173,000
• D)$205,000
• E)$170,000

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Definitions:

Interest Rates

The percentage of a loan or deposit amount charged as interest to the borrower or paid to the investor.

Escalating Rate GIC

A Guaranteed Investment Certificate (GIC) with an interest rate that increases at predetermined intervals throughout the term.

Fixed-rate GIC

Guaranteed Investment Certificate with a fixed interest rate for the term of the investment.

Maturity

The date on which the principal amount of a financial instrument such as a bond or loan is due to be paid in full.