ABC Company receives a four-year, $50,000 non- interest bearing note. The present value is known to be $32,936.50. ABC Company uses the effective interest method to calculate interest revenue and the carrying value of the note. What is the yield (or market) rate of interest? 11% 9% 10% O 12% Question 19 1 pts A contingency is: An event that occurs after year-end, but before the financial statements are issued A commitment due to contractual provisions An explanation of the valuation methods used to value assets and liabilities A material event that has an uncertain outcome Question 31 1 pts Inventory on the balance sheet is valued at: Lower of cost and net realizable value FIFO Net realizable value Average cost Question 25 1 pts The following can be cash equivalents except: Guaranteed Investment Certificates (GICs) Commercial Paper Fair value through net income investments Term deposits Question 24 1 pts A note receivable always contains an interest component: True False