What Is the Present Value of $777 in One Year

question 180

Multiple Choice

What is the present value of $777 in one year if the current rate of interest is 7 percent?

• A)$831.39
• B)$726.17
• C)$457.06
• D)$111.00

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Definitions:

Expense Section

A part of the financial statement that lists and details the costs incurred by a company during a specific period.

Finished Goods

Finished Goods are products that have completed the manufacturing process but have not yet been sold or distributed to the end customer.

Merchandise Inventory

Goods and products that a business holds in stock with the intent of selling them to customers.

FIFO

First-In, First-Out, an inventory valuation method where the first items placed in inventory are the first sold.