The concept that interest causes the value of money received today to be greater than the value of that same amount of money received in the future is referred to as the:

Select one:

A. Monetary unit assumption.

B. Time value of money.

C. Historical cost principle.

D. Matching principle.

Simple interest is computed as the:

Select one:

A. Interest rate times the sum of the initial investment plus any previous interest.

B. Interest rate times any previous interest.

C. Interest rate times the difference between the initial investment and any previous interest.

D. Interest rate times the initial investment only.