On August 14,Main Street Bank Lent $300,000 to City Cafe

question 95

Multiple Choice

On August 14,Main Street Bank lent $300,000 to City Cafe on a 75 day,5% note.What is the maturity date of the note?

• A)Oct.27
• B)Oct.28
• C)Oct.29
• D)Oct.30

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Definitions:

Shutdown Point

The level of production and price at which the revenue received does not cover the variable costs, making further production unprofitable.

ATC (Average Total Cost)

The total cost of production divided by the quantity produced, representing the cost per unit of output.

MC (Marginal Cost)

Expenses incurred from making one more unit of a product or service.

Break-Even

The point at which total costs and total revenue are equal, meaning there is no net loss or gain, and the business or investment is self-sustaining.