The exact simple interest of P5,000 invested from June 21, 1995 to December 25, 1995 is P100. What is the rate of interest? 0.039 0.0392 0.0398 0.0395 TRUE ANSWER : ? YOUR ANSWER : ?
You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank? P44.55 P37.56 P54.66 P 62.44 TRUE ANSWER : ? YOUR ANSWER : ?
In case of bankruptcy of a partnership, The partners are not liable for the liabilities of the partnership The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities The partners nay sell stock to generate additional capital The partners personal assets are attached to the debt of the partnership TRUE ANSWER : ? YOUR ANSWER : ?
The Saudi Arabian Oil Refinery developed an oil well which is estimated to contain 5,000,000 barrels of oil at an initial cost of $ 50,000,000. What is the depletion charge during the year where it produces half million barrels of oil? Use Unit or Factor method in computing depletion. 5025000 5010000 5050000 5000000 TRUE ANSWER : ? YOUR ANSWER : ?
What is the term for an annuity with a fixed time span? Ordinary annuity Annuity due Annuity certain Perpetuity TRUE ANSWER : ? YOUR ANSWER : ?
What is the reduction in the money value of capital asset is called? Capital loss Deficit Capital expenditure Loss TRUE ANSWER : ? YOUR ANSWER : ?
It is the practice of almost all banks in the Philippines that when they grant a loan, the interest for one year is automatically deducted from the principal amount upon release of money to a borrower. Let us therefore assume that you applied for a loan with a bank and the P80,000 was approved at an interest rate of 14% of which P11,200 was deducted and you were given a check of P68,800. Since you have to pay the amount of P80,000 one year after, what then will be the effective interest rate? 16.32 % 16.28 % 16.02 % 16.47 % TRUE ANSWER : ? YOUR ANSWER : ?
Which is true about partnership? Its capitalization must be equal for each partner. It has a perpetual life. It will be dissolved if one of the partners ceases to be connected with the partnership. It can be handed down from one generation of partners to another. TRUE ANSWER : ? YOUR ANSWER : ?
The unrecovered depreciation which results due to poor estimates as to the life of the equipment is called ______. In-place value Annuity Economic life Sunk cost TRUE ANSWER : ? YOUR ANSWER : ?
The CRF (ep) is also known as: [CRF(EP) - 8% - 7], where Money is borrowed for n = 7 years Neither (A) nor (B) Both (A) and (B) 8% is the rate of interest per year TRUE ANSWER : ? YOUR ANSWER : ?