A $45,000,two-Month,9% Note Payable Was Issued on December 1,2018

question 106

Multiple Choice

A $45,000,two-month,9% note payable was issued on December 1,2018.What is the amount of interest expense recorded in the year 2019? (Round the final calculation to the nearest dollar.)

• A) $4050
• B) $338
• C) $675
• D) $45,675

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Definitions:

Quasi-experimental Research

A research method that seeks to establish a cause-and-effect relationship, without the full control or random assignment found in true experimental designs.

Preexisting Groups

Groups that have been formed before the implementation of a study, not generated by random assignment or manipulation by the researcher.

Random Assignment

A method of assigning individuals or units to different groups in an experiment using randomization to ensure every participant has an equal chance of being placed in any group.

Independent Variable

A variable whose variation does not depend on that of another, often manipulated by the researcher to determine its effect on a dependent variable.