Question

The rate of interest per annum is given. What should be the interest that should be considered in order to compound the interest quarterly?
a.the rate interest reduced to half
b.the rate of interest is reduced one fourth
c.the rate of interest is doubled
d.the rate of interest becomes 4 times

Answer 1

Answer:

Suspense accounts are used when your trial balance is out of balance or when you have an unidentified transaction. The suspense account is a general ledger account that acts as a holding account until the error is discovered or the unknown transaction is identified.

Answer 2

Answer:

b. the rate of interest is reduced to one fourth