An interest-bearing account is an account that generates interest income on the available balance in the account.
What is an interest-bearing account?
An interest-bearing account computes interest based on the balance outstanding on the loan or investment account, for instance, a monthly compounding deposit account where the interest paid on the account on monthly basis on the available balance before interest computation.
There also non interest-bearing account which only promises a particular amount when the deposit or investment account matures rather than paying on the balance.
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Answer:
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Answer:
rent for land, wages for labour, interest for capital, and profit for enterprise.
Explanation:
Because goods and services are scarce they have a value. To get these goods or services we must sacrifice something, usually time and money.
Answer:
The answer is: A) Ordinary income of $45,000.
Explanation:
The $45,000 the lessor collected from the lessee (his tenant) should be included as ordinary income.
IRS Internal Revenue Code Section 10. b. 1. establishes that payments received by a lessor for the cancellation of a lease are considering ordinary income.
<span>The correct option is A. Down payment is defined as the initial payment that is usually made to the seller when goods are bought on credit. Down payment is an indication that the buyer meant to buy the goods and that he will complete the payment later. Down payment are usually a certain percentage of the worth of the goods that are to be bought.</span>