On 1 March 2017,Vinnie Services Issued a 5% Long-Term Note

question 56

Multiple Choice

On 1 March 2017,Vinnie Services issued a 5% long-term note payable for $18,000.It is payable over a 3-year term in $6000 principal instalments on 1 March of each year,beginning 1 March 2018.Each yearly instalment will include both principal repayment of $6000 and interest payment for the preceding one-year period.What is the amount of total cash payment that the Vinnie will make on 1 March 2018?

• A)$6900
• B)$6450
• C)$6000
• D)$18,000

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Definitions:

Statistical Quality Control

The measurement of work samples for compliance with quality standards.

Statistical Analysis

The collection, examination, interpretation, and presentation of data to identify patterns, trends, and relationships.

Continuous Improvement

A methodological approach aimed at achieving incremental enhancements in processes, products, or services over time, often associated with quality management systems.

Value Chain

A series of activities that a company performs to deliver a valuable product or service to its customers, from concept to delivery.