A $20,000,3-Month,8% Note Payable Was Issued on November 1,2015

question 12

Multiple Choice

A $20,000,3-month,8% note payable was issued on November 1,2015.What is the amount of interest expense recorded in the year 2016?

• A) $800
• B) $133
• C) $200
• D) $267

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Definitions:

Triarchic Theory

A theory proposed by Robert Sternberg that intelligence consists of three components: analytical, creative, and practical intelligence.

Investigation Intelligence

The process of collecting, analyzing, and utilizing information effectively for the purpose of solving crimes or uncovering information.

Mental Processes

involve cognitive activities such as thinking, perceiving, and decision-making that occur within the human mind.

Cognitive Perspective

The Cognitive Perspective in psychology focuses on how people perceive, think, understand, and remember information, influencing their behavior.