Regarding time value of money concepts, which of the following is correct: a. The present value today of money to be received in the future is worth more than the amount of money to be received in the future. b. The future value of a sum of money is worth less in the future than it is worth today. c. Bank A provides 24% interest which is compounded quarterly, while Bank B also provides 24% interest but which is compounded monthly. Bank B will provide a greater future value. d. Bank C provides 36% interest which is compounded quarterly, while Bank D also provides 36% interest but which is compounded monthly. Bank C will provide a lesser present value. Today is July 1, 2014. You will deposit $10,000 into a savings account each year for the next 10 years, starting July 1, 2015, and continuing every July 1 thereafter. The above cash flow pattern depicts an annuity due. True Or False Today is December 31, 2011. You will deposit $50,000 into a savings account at the end of each year for the next 15 years, starting December 31, 2011. The above cash flow pattern depicts an ordinary annuity. True or False When preparing bank reconciliations, an error made by the bank would require a journal entry in the company's books? True or False