A yearly budget differs from a monthly budget... because it will account for less frequent purchases because it is excatly 12 times the amount in no meaningful way only if you leave on a different planet Question 29 You borrow $20,000 for a new car, and the rate is 10%/year. If it is a one-year loan how much will it cost you to fully pa loan? $22,000 $30,000 $20,000 $2,000 571 Proponents of historical cost ordinarily maintain that in comparison with all other valuation alternatives for general purpose financial reporting, statements prepared using historical costs are more indicative of the entity's purchasing power relevant O conservative verifiable