Multiple choice questions

QUESTION 16 Compound interest is computed quarterly on 5600 in a bank savings account for 7 years at 12% annual interest. To find the value of the savings account af the end of 7 years, the factor from the future value table would be found at O A. 7 periods at 3%. O B.7 periods at 12%. O C. 28 periods at 3. O D. 28 periods at 12%. QUESTION 17 Equipment costing 520,000 with accumulated depreciation of $17,000 was sold for cash of $4,000. What is the gain or loss on the sale of the equipment? A $1,000 gain OB.$4.000 gain C. $13,000 loss D.$16.000 loss. Click Save and Submit to save and submit Chek Save All Ares to stealla . Sove All Answers Close Type here to search QUESTION 19 Sundance Company has Bonds Payable of $2,000,000 and Premium on Bonds Payable of $100,000. Assuming the bonds are due in 10 years, what amount should Sundance report as the carrying value of the bonds in long-term liabilities on its year-end balance sheet? O A. $2,100,000 O B. $2,000,000 O C.$100,000 OD.$1,900,000 QUESTION 20 The maximum number of shares of stock that may be issued according to the corporation's charter is referred to as the O A. Issued shares. B. Unissued shares C. Authorized shares D. Outstanding shares Click Save and Submit to save and submit. Click Save All A rers to save all ansus Save All Answe Type here to search Question Completion Status: QUESTION 23 Suppose you have a winning lottery ticket and you are given the option of accepting $3,000,000 three years from now or taking the present value of the $3,000,000 now. The sponsor of the prize uses a 6% discount rate. If you elect to receive the present value of the prize now, the amount you will receive is O A. $3.000.000 O B. $2.518,860 OC. $8.019,030 O D. $2,460.000 QUESTION 24 All of the following are advantages of corporations except O A Government regulations B. Separate legal existence Limited liability of stockholders. D. Ability to acquire capital Chick Save and Submit to save and submit. Click Save All Amers to save all answers Save Al Answers Close in Type here to search