On January 1, 2020 X company borrowed 3-year $10,000, 10% interest bearing notes from Arab bank. The interest is payable on December 31. The market interest rate is 0.12. the cash will be received from Arab Bank is ----------------

Select one:

a. $9,000.

b. $10,000.

c. $9,520.

d. $11,000.

Clear my choice

Partial depreciation is used when the company purchase asset at the beginning of fiscal year.

Select one:

a. False

b. True