1. The following are part of the "due process" system used by the FASB in the evolution of a typical FASB Accounting Standards Updates:

1. Exposure Draft

2. statement Accounting Standards

3. Preliminary Views

The chronological order in which these items are released is as follows:

a) 1, 3, 2.

b) 2, 3, 1.

c) 3, 1, 2.

d) 1, 2, 3.

2. On September 1, 2014, Lowe Co. issued a note payable to National Bank in the amount of $900,000, bearing interest at 12%, and payable in three equal annual principal payments of $300,000. On this date, the bank's prime rate was 11 %. The first payment for interest and principal was made on September 1, 2015. At December 31, 2015, Lowe should record accrued interest payable of:

a)$36,000.

b)$33,000

c)24,000

d)22,000

3.On January 15, 2012, Dolan Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, 2016, at an estimated cost of $5,000,000. Dolan plans to make four equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, 2012. Future value factors are as follows: Future value of 1 at 10% for 5 periods 1.61 Future value of ordinary annuity of 1 at 10% for 4 periods 4.64 Future value of annuity due of 1 at 10% for 4 periods 5.11 Dolan should make four annual deposits of

a)$ 889,522.

b)$978,474

c)$1,077586

d)1,250,000