31. Which one of the following is interest earned on both an initial
principal and the unpaid accrued interest that accumulated on that
principal from prior periods?
32. Beta Company has arranged to borrow $10,000 for 180 days. Beta
will repay the principal amount plus $600 in interest at the maturity of
the note.Which one of the following is the annual percentage rate
(APR) of interest that Beta is paying on the loan?
33. Which one of the following is the annual rate of interest
applicable when not taking trade credit terms of "2/10, net 30?"
34. The following information is available on market interest rates:
What is the market rate of interest on a one-year U.S. Treasury bill?
35. Which one of the following U.S. GAAP approaches to determining
fair value converts future amounts to current amounts?
36. Which of the following U.S. GAAP levels of inputs for valuation
purposes is/are based on observable inputs?
37. Conceptually, which one of the following U.S. GAAP approaches
for determining value is most likely to provide the best evidence of fair
value?
38. Which of the following characteristics, if any, should be taken into
account in valuing a specific item?
39. Under U.S. GAAP requirements, valuation may be based on an
40. Which of the following level(s) of input in the U.S. GAAP
hierarchy of inputs for fair value determination is/are likely to be most
appropriate for valuing basic agricultural commodities?
41. Assuming they are traded in an active market, which of the
following types of investments, if any, could be valued using level 1