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Match the Terms with the Correct Definitions

question 39

Multiple Choice

Match the terms with the correct definitions?.
-External rules that often have the effect of law in limiting professionals' actions; breach of these rules can result in discipline, including suspension or loss of a license to practice and civil and criminal liability.?


Definitions:

360-Day Year

An accounting method where the year is assumed to have 360 days, simplifying interest calculation by using 30-day months.

Ordinary Simple Interest Rate

An interest rate calculation where interest is only earned on the original principal, not on accrued interest.

360-Day Year

An accounting practice that simplifies interest calculations by assuming a year has 360 days.

Dealer Charged

The price or fee a dealer applies to a product or service, usually including their markup over the wholesale or dealer price.

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