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Test Bank Financial Accounting Information for Decisions 9th Edition By John Wild A+
- From Business, General Business
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Description
1) Interest is the borrower's payment to the owner of an asset, for its use.
Answer: TRUE
Difficulty: 1 Easy
Topic: Present and Future Value Concepts
Learning Objective: B-C1 Describe the earning of interest and the concepts of present and future values.
Bloom's: Remember
AACSB: Communication
AICPA: BB Industry; FN Measurement
2) From the perspective of an account holder, a savings account is a liability with interest.
Answer: FALSE
Available Answer
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