A Three Month, 10% Note for $8,000, Dated April 15

question 66

Multiple Choice

A three month, 10% note for $8,000, dated April 15, is received from a customer. The principal of the note is:

• A) $200.
• B) $8,000.
• C) $8,200.
• D) $8,800.

---

Definitions:

Finished Product

The final output of a manufacturing process, ready for sale or distribution to the end-user.

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage, indicating the financial health and profitability of a product or service.

Marketing Plan

A comprehensive strategy outlining an organization's advertising and marketing efforts, including target markets, marketing objectives, and initiatives to achieve them.

Ability To Make A Profit

The ability to make a profit reflects a business's capacity to generate more revenue than its expenses through its operations and strategies.