Bill bulge owned a grocery store in missouri. In order to finance some inventory, he borrowed $3000 from big bucks bank. The written agreement called for 20% interest to be paid at a time when long term government bond yields were 12%. At maturity, bill refused to pay anything because he said the bank was guilty of usury. Will bill have to pay anything?

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above