In each succeeding payment on an installment note (C) the amount that goes to decrease the carrying value of the note increases.
<h3>
What is an installment note?</h3>
- An installment note is a type of promissory note in which the principal and interest are paid in predetermined quantities, or set minimum amounts, at certain time intervals.
- The loan is amortized through periodic principal reductions.
- An installment note is a legal obligation or responsibility that compels the borrower to return the lender's principal in a series of periodic payments.
- A lump sum note or balloon loan, on the other hand, demands the borrower to return the entire note principal on a certain date.
- There is no payment schedule.
- The amount that goes to reduce the carrying value of an installment note increases with each subsequent payment.
<h3>Solution -</h3>
As it is given in the definition above that the amount that goes to reduce the carrying value of an installment note increases with each subsequent payment.
Therefore, In each succeeding payment on an installment note (C) the amount that goes to decrease the carrying value of the note increases.
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Correct question:
In each succeeding payment on an installment note:
A. The amount that goes to decreasing the carrying value of the note is unchanged.
B. The amount that goes to decrease the carrying value of the note decreases.
C. The amount that goes to decrease the carrying value of the note increases.
D. The amounts paid for both interest and principal increase proportionately.
Answer:
The civil court filing must be dismissed because of the constitutional right against double jeopardy.
Explanation:
Double jeopardy is the legal concept that protects a person from being tried again for the same or similar charge following his aquittal or conviction.
Fred Arden has been tried in criminal court and found innocent. Shawn is trying to sue him again for the same act in civil court.
This is against the rule of double jeopardy.
Answer:
Money is a concept which we all understand but which is difficult to define in exact terms. Money is anything serving as a medium of exchange. Most definitions of money take 'functions of money' as their starting point. 'Money is that which money does.
Answer:
The correct answer is Acxiom, Experian, Media Audit.
Explanation:
Demographics are general information about groups of people. Depending on the purpose, the data may include attributes such as age, sex and place of residence, as well as social characteristics such as occupation, family situation or income. In web analytics and online marketing, demographics are used to provide a deeper insight into a website's target audience or to create the so-called people. Demographic data is used primarily for the strategic use of tailoring offerings to the respective target group and can also be used as the basis for business analysis and performance reporting.
Answer:
1. $5.62
2. $15,174
Explanation:
1. The computation of the cost of one unit of product under variable costing is shown below:-
Total product cost = Direct material + Direct labor + Variable overhead
= $123,000 + $93,000 + $65,000
= $281,000
Unit product cost = Total product cost ÷ Produced units
= $281,000 ÷ $50,000
= $5.62
2. The computation of cost of ending inventory under variable costing is shown below:-
Unsold at end = Unit produced - Unit sold
= 50,000 - 47,300
= 2,700
Cost of ending inventory = Number of units sold × Unit product cost
= $5.62 × 2,700
= $15,174
