Freddy Purchased a Certificate of Deposit for $20,000 on July

question 67

Multiple Choice

Freddy purchased a certificate of deposit for $20,000 on July 1,2015.The certificate's maturity value in two years (June 30,2017) is $21,218,yielding 3% before-tax interest.

• A)Freddy must recognize $1,218 gross income in 2015.
• B)Freddy must recognize $1,218 gross income in 2017.
• C)Freddy must recognize $600 (.03 × $20,000) gross income in 2017.
• D)Freddy must recognize $300 (.03 × $20,000 × .5) gross income in 2015.
• E)None of these.

Describe the effect of environmental factors on the efficiency of photosynthesis, including photorespiration and adaptations of plants in different environments.

Explain the importance of accessory pigments in optimizing energy capture for photosynthesis.

Recognize the structural location of photosynthetic reactions within plant cells.

Understand the impact of human activities, such as burning fossil fuels, on the atmospheric COS1U1B12S1U1B0 levels.

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Definitions:

Allowance Method

An accounting method for estimating uncollectible accounts receivable that involves creating a provision for bad debts as a percentage of the accounts receivable.

Gross Price

The total cost of a good or service without deducting any discounts, taxes, or other expenses.

Net Price

The actual price paid for a product after deducting any discounts, rebates, or allowances from the list or gross price.

Allowance Method

An accounting technique that estimates and records bad debts expense from credit sales based on anticipated losses.