Question

Question 1 What is the future value in 30 years of $100,000 invested today in a savings account earning a 1% compound interest rate every year (rounded up to the nearest dollar)? Not yet answered Marked out of 1.00 Select one: Flag question O a. 130000 O b. 134785 O c. 30000 O d. More than $134785 Question 2 Not yet answered The revenue recognition principle and the matching principle are used in what accounting method? Marked out of 1.00 Select one: O a. the accrual accounting method b. the deferral accounting method P Flag question O c. the cash based accounting method d. the revenue accounting method Question 3 Which cost accounting method is best for companies that engage in the purchase and sale of large items such as cars? Not yet answered Marked out of 1.00 Select one: O a. LIFO P Flag question b. specific identification c. weighted average d. FIFO O

Answer 1

Answer 1: Option B 1,34,875

Working

	Amount Invested			Future Value
	100000	1.01	1.347849	1,34,785
Note	Do Multiply as 1.01*1.01(30 times)

Answer 2: Option A Accrual Accounting Method

Answer 3: LIFO