A $43,000,two-Month,10% Note Payable Was Issued on December 1,2016

question 132

Multiple Choice

A $43,000,two-month,10% note payable was issued on December 1,2016.What is the amount of interest expense recorded in the year 2017?

• A)$494
• B)$358
• C)$717
• D)$42,994

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Definitions:

Performance Accomplishment

Achievements or outcomes that demonstrate an individual's or group's effective execution of tasks, often measured against pre-defined standards or goals.

Expectancy Theory

A motivational theory suggesting that individuals are motivated to act based on the expected outcomes of their actions.

Motivation Components

The various elements that drive an individual's behavior towards achieving specific goals, including intrinsic and extrinsic motivators.

Lower-order Need

Basic physiological and safety needs that individuals seek to fulfill before addressing more complex desires or psychological aspects.