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For a Note Receivable That Was Created on November 1,2018

Question 225

Multiple Choice

For a note receivable that was created on November 1,2018 and is due for repayment on October 31,2019,what is the time fraction needed to compute interest revenue for the year ended December 31,2018?


A) 2/12
B) 2/10
C) 12/12
D) 22/12

Correct Answer:

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