Check your knowledge

Answer the following questions to see what you've learned.

On which one of the following entries can you calculate interest?

Open entries, applied entries, all entries

Open entries, applied entries, closed entries

Applied entries, closed entries, all entries

Open entries, closed entries, all entries

What specifies when and how finance charge memos are created?

Finance charge codes

Finance charge terms

Interest calculation methods

Interest rates

You must answer all questions before checking your work.