Saturn Inc

question 15

Multiple Choice

Saturn Inc.signed a one-year $48,000 note payable at 8% interest on May 1,2014.If Saturn Inc.only adjusts its accounts once a year at year-end,how much interest expense was accrued on December 31,2014?

• A)$1,280
• B)$3,840
• C)$2,560
• D)$3,200

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Definitions:

Structural Unemployment

Occurs when there is a mismatch between the skills that workers in the economy can offer and the skills demanded by employers.

Changing Technology

Refers to the rapid evolution and adoption of new tools, processes, and methodologies in the technology sector, affecting businesses and societies.

Stagflation

A situation in an economy characterized by slow economic growth combined with high unemployment and high inflation.

Unemployment

The situation where individuals who are capable of working and are actively seeking work are unable to find employment.