George recently received a great stock tip from his friend, mason. george didn’t have any cash on hand to invest, so he decided to take out a $20,000 loan to facilitate the stock acquisition. the loan terms are 8 percent interest with interest-only payments due each year for five years. at the end of the five-year period the entire loan principal is due. when george closed on the loan on april 1, 2015, he decided to invest $16,000 in stock and to use the remaining $4,000 to purchase a four-wheel recreation vehicle. george is unsure how he will treat the interest paid on the $20,000 loan. in 2015, george paid $1,200 interest expense on the loan. (hint: visit and consider irs publication 550.)
what amount may he deduct as interest in 2015?

Uppose that the federal reserve purchases a bond for $100,000 from donald truck, who deposits the proceeds in the manufacturer’s national bank. what will be the impact of this purchase on the supply of money? the money supply will increase by $100,000. the money supply will increase by $80,000. the money supply will increase by $500,000. this action will have no effect on the money supply. if the reserve requirement ratio is 20 percent, what is the maximum amount of additional loans that the manufacturer’s bank will be able to extend as the result of truck’s deposit? the maximum additional loans is $100,000. the maximum additional loans is $80,000. the maximum additional loans is $20,000. the maximum additional loans is $500,000. given the 20 percent reserve requirement, what is the maximum increase in the quantity of checkable deposits that could result throughout the entire banking system because of the fed’s action? this action will have no effect on the money supply. the money supply will eventually increase by $80,000. the money supply will eventually increase by $500,000. the money supply will eventually increase by $100,000.

An essential element of being receptive to messages is to have an open mind true or false

The following are budgeted data: january february march sales in units 16,200 22,400 19,200 production in units 19,200 20,200 18,700 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be: