Delta Company Was Accruing Interest on a Note Receivable at the End

question 108

True/False

Delta Company was accruing interest on a note receivable at the end of 2014. The note had principal of $10,000, an interest rate of 8%, and it had been outstanding for three months. Delta should accrue $200 of interest income for 2014.

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Definitions:

Serotonin

A neurotransmitter important in the regulation of mood, anxiety, and happiness, among other functions.

Major Mood Swings

Significant fluctuations in emotional state that can impact an individual's behavior and perception.

Dopamine

A neurotransmitter in the brain that plays a key role in reward, motivation, memory, attention, and even regulating body movements.

Crystallized Intelligence

The ability to use skills, knowledge, and experience. It does not correlate with cognitive speed but increases with age.