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Question 21 

Christos, an exchange student from Greece, wants to give an informative speech on his home country and culture. The best source of information for Christos for this speech would likely be __________.

▸ the Reader's Guide to Periodical Literature

▸ his personal experience

▸ interviews with experts

▸ an encyclopedia

Answer

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Question 22 

College students who __________ show large cognitive gains.
A) engage in campus academics but avoid involvement in extracurricular campus life
B) focus on classroom learning rather than civic engagement in their chosen field
C) connect their community service experiences with their classroom learning
D) interact with racially, ethnically, sexually, and religiously homogeneous peers

Answer

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Question 23 

When auditing acquisitions of property, plant, and equipment, the auditor's review of lease and rental agreements most closely relate to the cutoff objective.

▸ true

▸ false

Answer

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Question 24 

What amount will Jasmine need in her Retirement Plan on the day she retires if she wants to receive $3,500 at the beginning of every month for 24 years and the plan earns 6% compounded monthly?

▸ $237,596

▸ $356,897

▸ $485,219

▸ $536,222

▸ $759,883

Answer

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Question 25 

The future value of a $500 annuity due received for three years is $________, assuming an investment rate of 10%.
A) 1,820.50
B) 335.65
C) 665.50
D) 1,655.00

Answer

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Question 26 

When comparing annuity due to ordinary annuities, annuity due annuities will have higher
A) present values.
B) annuity payments.
C) future values.
D) both A and C.
E) all of the above.

Answer

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Question 27 

In comparing an ordinary annuity and an annuity due, which of the following is true?
A) The future value of an annuity due is always greater than the future value of an otherwise identical ordinary annuity.
B) The future value of an ordinary annuity is always greater than the future value of an otherwise identical annuity due.
C) The future value of an annuity due is always less than the future value of an otherwise identical ordinary annuity, since one less payment is received with an annuity due.
D) All things being equal, one would prefer to receive an ordinary annuity compared to an annuity due.

Answer

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Question 28 

Holding all other variables constant, payment per period for an annuity due will be higher than an ordinary annuity.
True / False?

Answer

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Question 29 

An annuity due is an amount that occur at the beginning of each period.

Answer

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Question 30 

The future value of a $2,000 annuity due deposited at 8 percent compounded annually for each of next 10 years is: (Round to the nearest whole dollar)
A) $28,974   
B) $31,291   
C) $14,494   
D) $13,420

Answer

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