Which of the Following Methods of Determining Interest Are Most

question 11

Multiple Choice

Which of the following methods of determining interest are most beneficial to consumers?

• A) FIFO
• B) LIFO
• C) Daily average balance
• D) Low quarterly balance
• E) Maximum balance

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Definitions:

Sanskrit

An ancient Indic language of India, in which the Hindu scriptures and classical Indian epic poems are written and from which many northern Indian languages are derived.

Nirvana

In Buddhism, the ideal state of peacefulness. Literally, the term means “extinction” and refers to the elimination of suffering through the elimination of selfish craving.

Presupposes

Refers to something assumed or taken for granted in advance as a basis for argument or discussion.

Conception

The process of forming a general idea or notion that represents something, often the beginning of the thought process.