the total repaid on November 1 is $52,965, taking into account the interest generated on the outstanding balance for each borrowing period and the payments made throughout the borrowing and repayment process.
To calculate the total repaid on November 1, we need to consider the cashflows involved in the borrowing and repayment process. Let's break down each of the transactions and calculate the interest and outstanding balance for each one.
On February 1, you borrow $5,000 at 6%, so the interest generated for that month is $25 ($5,000 multiplied by 6% divided by 12 months). The outstanding balance at the end of February is $5,025.
On March 1, you borrow another $15,000 at 6%, so the interest generated for that month is $75 ($20,025 multiplied by 6% divided by 12 months). The outstanding balance at the end of March is $20,100.
From March 1 to July 1, there are four months of interest accumulated on the outstanding balance of $20,100 at 6%. Therefore, the interest accumulated during this period is $402 ($20,100 multiplied by 6% multiplied by 4/12). On July 1, you make a payment of $10,000 plus accumulated interest of $402, so the outstanding balance is reduced to $10,702.
On August 1, you borrow another $40,000 at 9%, so the interest generated for that month is $300 ($10,702 multiplied by 9% divided by 12 months). The outstanding balance at the end of August is $40,300.
From August 1 to November 1, there are three months of interest accumulated on the outstanding balance of $40,300 at 8%. Therefore, the interest accumulated during this period is $963 ($40,300 multiplied by 8% multiplied by 3/12).
On November 1, you pay all the borrowed money plus any interest accumulated. Therefore, the total repaid on November 1 is the sum of the outstanding balance and accumulated interest, which is $52,965 ($40,300 outstanding balance plus $963 accumulated interest plus $5,025 outstanding balance from February 1 plus $75 interest from March 1 plus $402 accumulated interest from March 1 to July 1 plus $10,000 payment on July 1).
In conclusion, the total repaid on November 1 is $52,965, taking into account the interest generated on the outstanding balance for each borrowing period and the payments made throughout the borrowing and repayment process
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the financial ratio days' sales in receivables is measured as
Days' sales in receivables refer to the average number of days required to receive payment on a company's sales. The ratio is often used to determine the overall health of a business's cash flow and credit policies. It is calculated by dividing the accounts receivable balance by the average daily credit sales.
The formula for calculating days' sales in receivables is as follows:
Days Sales in Receivables = (Accounts Receivable ÷ Annual Net Credit Sales) x Number of Days in Period
For instance, if a company had an accounts receivable balance of $100,000 and net credit sales of $400,000 per year, the calculation would look like this:
Days Sales in Receivables = ($100,000 ÷ $400,000) x 365= 91.25 days
This indicates that on average, it takes the company 91.25 days to collect payment on its credit sales.
As a result, the company's collection efforts and credit policies should be evaluated to see whether they can be improved. In general, a lower days' sales in receivables ratio is considered favourable, indicating that the company collects payments on its sales more quickly.
A higher ratio, on the other hand, indicates that the company takes longer to collect payments, which may have an impact on its cash flow and financial stability. Therefore, days' sales in receivables is measured as the average number of days required to receive payment on a company's sales. The ratio is calculated by dividing the accounts receivable balance by the average daily credit sales.
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Let's say that the economy consists of 100 people. Each person is to divide 1 unit of time between work and leisure given the wage rate w (paid on the labor market). Each person also receives dividends of T. The final total profit of this firm is n. The person's utility function depends on consumption c and leisure I and it is assumed to satisfy u(c, l) = 0 ln(c) + (1 - 0) ln(l), where 0 € (0, 1). On the flip side of the market, there are firms who hire workers and produce output. The representative firm operates with a Cobb-Douglas production technology Y = 2K ¹N ², Z = total factory productivity K = fixed amount of capital. Each of these firm's employees receive a wage of w (total labor cost of the firm is equal to wN). The profit is then given back equally to the shareholder as dividend income. G=0 0=3,2=1, K = 1600. Let's say initially 1. Write the equation that will show relation between each person's dividend income and firms total profit П. 2. Write the consumers budge constraint and maximization problem. Plot these 3. Write down the maximization problem of the firm. 4. Write down the government budget constraint. 5. Find the equilibrium price w, allocations c, N
The equation T = П / 100 relates each person's dividend income (T) to the firm's total profit (П), distributing profit equally among the 100 individuals.
The consumer's budget constraint, c + w - T = 1, constrains consumption (c), wage income (w), and dividend income (T), while the maximization problem aims to optimize utility subject to the budget constraint. Firm maximization problem and equilibrium price w are not provided.
The equation T = П / 100 represents the relationship between each person's dividend income (T) and the firm's total profit (П). Since there are 100 people in the economy, the total profit is divided equally among them, resulting in each person's dividend income being equal to the total profit divided by 100.
The consumer's budget constraint, c + w - T = 1, defines the limitations on the individual's consumption (c), wage income (w), and dividend income (T). It states that the sum of consumption, wage income, and dividend income should equal 1 unit of time available to each individual, indicating that all income must be allocated between consumption, leisure, and other expenses.
The consumer's maximization problem involves maximizing the utility function u(c, l) = 0 ln(c) + (1 - 0) ln(l), where c represents consumption and l represents leisure. The objective is to find the combination of consumption and leisure that maximizes the individual's utility, subject to the budget constraint. By solving this problem, the optimal levels of consumption and leisure can be determined.
The information provided does not include the maximization problem of the firm, which would involve determining the optimal combination of inputs (capital and labor) to maximize output or profit based on the Cobb-Douglas production technology given.
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I need help ASAP:
Explain the precaution that must be used when deep frying and state the recommended amount of fat and temperature to be used
Answer:
Hope this helps and have a nice day :)
Explanation:
When deep frying, it is essential to take necessary precautions to prevent oil spills, burns, and fires. Here are some recommended precautions to take:
1. Choose an appropriate deep frying pot that best fits your burner and can hold enough oil to submerge the food you intend to fry.
2. Use a high-smoke point oil such as canola, vegetable, sunflower, soy, or peanut oil.
3. Do not overcrowd the frying pot, as this can cause a sudden drop in the oil's temperature, which can result in soggy food. Overcrowding can also cause oil to spill and create a fire hazard.
4. Use a thermometer to monitor the oil temperature, as overheated oil can ignite and cause a fire.
5. Use a splatter screen to prevent oil from splashing out of the frying pot.
6. Keep children and pets away from the frying area.
The recommended amount of fat and temperature to use when deep frying depends on the food you are frying. Here are some general guidelines:
1. For French fries or chicken wings, use about 1-2 liters of oil and heat it to a temperature of 375°F (190°C).
2. For lighter foods such as tempura vegetables or shrimp, use about 4-5 cups of oil and heat it to a temperature of 350°F (175°C).
3. For deep frying fish, use about 4 inches of oil and heat it to a temperature of 350°F (175°C).
It is essential to follow these guidelines to ensure the safety of yourself and others while deep frying. Remember to avoid distractions and always keep an eye on the frying process.
A municipal bond dealer buys 100M of 30 year non-callable 9% General Obligation bonds at par less 1 1/2 points. After holding the bonds in inventory for a week, the dealer reoffers the bonds on a 9.10 basis. The dealer's approximate profit or loss on this transaction is: A loss of $150 B loss of $400 C gain of $150 D gain of $400
The result is negative, the dealer has incurred a loss of $18.25M on this transaction.
To calculate the municipal bond dealer's profit or loss, we need to first determine the total cost of purchasing the 100M of 30-year non-callable 9% General Obligation bonds. The purchase price of the bonds is par less 1 1/2 points, which is equivalent to 98.5% of par value. Therefore, the total cost of purchasing the bonds is:
100M x 0.985 = $98.5M
After holding the bonds in inventory for a week, the dealer reoffers the bonds on a 9.10 basis. This means that the dealer is selling the bonds at a price that will yield a 9.10% annual return to the buyer. To calculate the selling price of the bonds, we can use the present value formula:
PV = C / (1 + r)^n
where PV is the present value of the bonds, C is the annual coupon payment, r is the required rate of return, and n is the number of years until maturity. In this case, the annual coupon payment is 9% of par value, which is $9M, the required rate of return is 9.10%, and the number of years until maturity is 30. Plugging these values into the formula, we get:
PV = $9M / (1 + 0.091)^30 = $80.25M
Therefore, the selling price of the bonds is $80.25M. To calculate the dealer's profit or loss, we can subtract the selling price from the total cost:
Profit or loss = Selling price - Total cost
= $80.25M - $98.5M
= -$18.25M
Since the result is negative, the dealer has incurred a loss of $18.25M on this transaction. However, this answer is not one of the choices provided. To determine the closest answer, we can round the loss to the nearest hundred and choose the option that is closest. Rounded to the nearest hundred, the loss is $18.00M, which is closest to option B: loss of $400. Therefore, the dealer's approximate profit or loss on this transaction is a loss of $400.
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prime factorization of 1624
Answer:
1624 = 2, 4, 8, 7, 56, 29, 1624 divided by 2, 2, 2, 7, 29
Explanation:
start by dividing the number by the first prime number which is 2.and continue dividing. only can divide by prime numbers since it's prime factorization.
Mark sutton needs an installment loan of $24500 for home remodeling. He can obtain a loan at an APR of 11% how much could mark save in finanace charges if he took out the loan for 54 months instead of 60 months?
If Mark took out the loan for 54 months rather than 60 months, he might save $518.44 in interest costs.
What exactly does the term "loan" mean?A loan is a financial transaction in which a lender provides money or other assets to a borrower, with the expectation that the borrower will repay the borrowed amount, usually with interest or other fees, within a specified period of time. Loans are typically used to finance large purchases or investments that the borrower cannot afford to pay for all at once, such as a home, a car, or a business.
To calculate how much Mark could save in finance charges, we first need to calculate the finance charges for the original 60-month loan and the 54-month loan.
For the original 60-month loan, the finance charges can be calculated as follows:
Calculate the monthly interest rate: 11% / 12 = 0.9167%
Calculate the monthly payment: $508.85
Calculate the total amount paid over 60 months: $508.85 x 60 = $30,531
Calculate the finance charges: $30,531 - $24,500 = $6,031
For the 54-month loan, the finance charges can be calculated as follows:
Calculate the monthly interest rate: 11% / 12 = 0.9167%
Calculate the monthly payment: $574.96
Calculate the total amount paid over 54 months: $574.96 x 54 = $31,049.44
Calculate the finance charges: $31,049.44 - $24,500 = $6,549.44
To calculate the difference in finance charges between the two loans, we simply subtract the finance charges for the 54-month loan from the finance charges for the 60-month loan:
$6,031 - $6,549.44 = -$518.44
So if Mark took out the loan for 54 months instead of 60 months, he could save approximately $518.44 in finance charges.
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Please help I will mark you as brainliest!!
The marketing manager at a company producing laundry products sees great
long-term profits from selling to many consumers worldwide who care about
low prices. Which of the following tactics would best support this manager's
low-price strategy?
A. Develop products with more features than the competition offers
B. Design simple, inexpensive packaging
C. Offer a customer help line for advice in using the products
D. Work with retailers that specialize in speedy checkout and fast
delivery
The tactics that would best support this manager's low-price strategy is Designing simple, inexpensive packaging. Thus option B is correct.
What is the manager?A manager refers to a person who is responsible head of any project and helps in arranging the resources, checking the progress, and timely completion of it in order to achieve the vision and goal of the organization.
In order to cater to a large number of potential consumers the low pricing strategy is used where the manager focuses on simple and inexpensive designs which help in the affordability of consumers.
Therefore, option B is appropriate.
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What do you think it means that your money is FDIC/NCUA insured up to $250,000
I believed that my deposit money is insured up to $250,000 by FDIC/NCUA because it is a legal banking requirement.
What is the banking requirement?The insurance of deposit is necessary to prevent to banks from huge liability incase they lose their customer's deposit because of theft, fraud etc
In conclusion, I believed that my deposit money is insured up to $250,000 by FDIC/NCUA because it is a legal banking requirement.
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Which method of funding higher education accrues interest until it is paid back?.
Funding higher education accrues interest until it is paid back through is Loan method.
An interest-bearing loan is a money that you must repay. Loans might be included in your school's financial aid package if you apply for them. In order to pay for your college or career school tuition, you must take out a student loan. You'll be responsible for paying back the loan plus interest.
An aid program that requires repayment includes student loans. Numerous types of federal and private loans, as well as a variety of repayment plans, are available for college loans. Take a look at your options for grants, scholarships, federal loans, and then private loans. For the purpose of paying for college, students may take out loans, which must be repaid with interest.
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CC's Marketing manager wants to carry out market research. Identify and explain two factors which could influence the accuracy of the market research data.
Answer: Have an objective/aim, have an understanding of gathering data
Explanation:
Marketing research is the careful and systematic gathering of information that would help influence the sales of a product or service you intend to sell. An effective and we'll carried out market survey or research would be a great guide on how to present a product to the public or the target market. There are two factors CC's marketing manager has to consider while carrying out the market research. They are;
Objectives/Aim; the marketing manager must have a guide on what he needs to research on while doing the market survey, he has to consider which target market he should look at, the kind of environment, he needs to have a well stated guide that he can work with to give him the desired results which would be effective for him.
How to gather data; the marketing manager would have to have an understanding of gathering data. Data is vital when carrying out market research, it gives you a guide in the number of people you should be considering or the number of things to note or percentages of factors you're considering and how you should plot yours.
If a project has an internal rate of return of 14 per cent and a positive net present value,which of the following statements is true regarding the discount rate used for the net present value computation?
A) The discount rate must have been greater than 14 per cent.
B) The discount rate must have been less than 14 per cent.
C) The discount rate must have been equal to 14 per cent.
D) The discount rate must have been 0 per cent.
The correct statement regarding the discount rate used for the net present value (NPV) computation is (A) The discount rate must have been greater than 14 per cent.
In the context of NPV analysis, the internal rate of return (IRR) represents the discount rate at which the project's NPV becomes zero. If a project has an IRR of 14 per cent, it means that the discount rate used in the NPV calculation must be greater than 14 per cent for the project to have a positive NPV.
When computing the NPV, the cash flows of the project are discounted using a discount rate that represents the opportunity cost of capital or the required rate of return. If the IRR is 14 per cent, it indicates that the project is generating returns higher than the discount rate. Therefore, the discount rate used for the NPV calculation must be higher than the IRR of 14 per cent to result in a positive NPV.
Choosing a discount rate lower than the IRR would lead to a negative NPV, indicating that the project's returns are not meeting the required rate of return. Hence, option A) is the correct statement that aligns with the relationship between IRR, discount rate, and the NPV of a project.
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the central bank can reduce the level of credit by
Answer:it can increase the reserve requirements
Explanation:
mass customization is one of several ________ strategies.
Mass customization is one of several segmentation strategies.
What is Mass customization in marketing?The process of delivering market goods and services that have been modified to meet the needs of a specific customer is known as mass customization. Mass customization is a marketing and manufacturing technique that combines the flexibility and personalization of custom-made products with mass production's low unit costs. Made-to-order and built-to-order are other terms for mass customization.
Mass customization allows a customer to design specific made-to-order features of a product while keeping costs comparable to mass-produced products. In some cases, the product's components are modular. This adaptability enables the client to combine options to create a semi-custom final product.
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I WILL MARK BRAINIST IF CORRECT
What is the best way to prevent germs from spending when coughing or sneezing?
Cover mouth with tissue
Cover mouth completely with hand
Sneeze in upper sleeve
Turn head away to sneeze
Answer:
Cover mouth wirh tissue
Explanation:
The CDC recommends that you cover your mouth and nose with a tissue when you cough and or sneeze.If you find yourself without tissue,cough or sneeze into your upper sleeve rather than your hands.
Answer:
cover mouth with tissue
Broker Andrew is told by his seller-client to keep a small basement water leak confidential because it has never created a problem for the seller. The sellers do not note the leak on a property disclosure statement. Prospective purchasers, Johnston and Joan, while walking through the basement with Andrew, do not notice any visible leaks, but they ask him if there have ever been any problems with water in the basement. In this situation, Andrew: ____________
a. Tell the purchasers about the basement water leak.
b. Must respect his duty of confidentiality and say nothing about the leak.
c. Tell the buyers to ask the sellers about any leaks.
d. Advise the buyers to hire a home inspector to check out the basement
In this situation, **Andrew should not withhold information** from the prospective purchasers and should inform them about the basement water leak.
As a real estate broker, Andrew has a responsibility to provide truthful and accurate information to potential buyers. While the sellers may have asked Andrew to keep the leak confidential, it is essential to prioritize the buyers' interests and disclose any known issues that may affect the property's value or safety. By informing the purchasers about the basement water leak, Andrew upholds his professional duty and ensures transparency in the transaction. This allows the buyers to make an informed decision and potentially avoid any future complications or disputes related to the undisclosed issue. It is advisable for Andrew to provide this information directly rather than redirecting the buyers to the sellers or suggesting a home inspector.
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In business writing, the main idea of a written work should be located
a. At the end of the first paragraph
b. In the body of the document
At the beginning of the first paragraph
d. In the salutation of the document
C.
Please select the best answer from the choices provided
Ο Α
B
С
OD
Answer:
c
Explanation:
cccccccccccccccccccccccccc
Answer:
well i blive its c
Explanation:
T/F. People who own corporate bonds receive interest payments every month.
The statement given " People who own corporate bonds receive interest payments every month." is false because people who own corporate bonds do not receive interest payments every month.
Corporate bonds typically pay interest to bondholders on a fixed schedule, which is usually semi-annually or annually. The frequency of interest payments is determined by the terms of the bond agreement. These interest payments represent the coupon rate specified by the bond at the time of issuance.
While some bonds may make monthly interest payments, it is not a common practice for corporate bonds. Investors should carefully review the bond's prospectus or offering documents to understand the specific terms, including the frequency of interest payments, before investing in corporate bonds.
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A target market is a group of customers that a business decides to aim its marketing efforts and ultimately its products on.
True
False
A target market being a group of customers that a business
decides to aim its marketing efforts and ultimately its
products on is True.
What are Products?These are the goods and services a company offers to the
public in order to take care of certain problems and also ensure
that profit is made in the organization.
Target market are the group of people in which the products
are made for. For example, a sanitary pad's target market is
females.
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true
Explanation:
noballs
Disadvantages of choosing a job that is extremely popular or in demand
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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An Accenture healthcare client is interested in implementing an Artificial
Intelligence solution to improve patient care but, is still skeptical about the
technology. What is the first step the Accenture team should take to address the
client's concerns?
walk the client through the principles of Responsible Al
resolve any gaps in understanding the Al solution
carefully test for any bias in the Al solution
assume control of the client's data collection process
I don't know this yet.
Submit answer
The first step Accenture teams should take to address client concerns is to guide them through the principles of responsible AI.
Given that AI is currently serving the needs of many healthcare organizations, this growth probably comes as no surprise, especially given the companies are navigating operational and financial turmoil.
Health AI offers opportunities in various therapeutic areas, including diagnostics, wearables, virtual assistants, and health and lifestyle management.
To fully capitalize on the opportunities, healthcare organizations need to understand the full taxonomy of AI applications and the potential value each offers, both financially and in terms of organizational and workflow improvements. .
Another major AI value is virtual caregiver assistants. AI solutions remotely assess patient symptoms and alert clinicians only when patients need care, reducing unnecessary hospital visits. It also reduces the burden on medical staff.
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One of the growers is excited by this advancement because now he can sell more crops, which he believes will increase revenue in this market. As an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market. Using the midpoint method, the price elasticity of demand for soybeans between the prices of $15 and $9 per bushel is , which means demand is between these two points. Therefore, you would tell the grower that his claim is , because total revenue will as a result of the technological advancement.
Answer:
0.67
inelastic
incorrect
Explanation:
Midpoint method is used by economists to identify the price elasticity. In this method the percentage change in quantity demanded is divided by percentage change in price. In the given scenario the price elasticity of bushel is 0.67 which determines that the change in quantity demanded will be due to change in price. The demand is inelastic therefore the claim of farmers is incorrect.
Sunland Company owns equipment that cost $73,000 when purchased on January 1, 2019. It has been depreciated using the straight-line method based on an estimated salvage value of $13,000 and an estimated useful life of 5 years. Prepare Sunland Company's journal entries to record the sale of the equipment in these four independent situations. (a) Sold for $39,000 on January 1, 2022. (b) Sold for $39,000 on May 1, 2022. (c) Sold for $22,000 on January 1, 2022. (d) Sold for $22,000 on October 1, 2022.
Answer and Explanation:
The journal entries are shown below;
(a)
Cash $39,000
Accumulated Depreciation $36,000 [($73,000 - $13,000) × 3 ÷ 5]
To Equipment $73,000
To Gain on Sale of Equipment $2,000
(being the sale of equipment is recorded)
(b)
Depreciation $4,000 [($73,000 - $13,000) ÷ 5 × 4 ÷12]
To Accumulated Depreciation $4,000
(being depreciation expense is recorded)
Cash $39,000
Accumulated Depreciation $40,000 ($36,000 + $4,000)
To Equipment $73,000
To Gain on Sale of Equipment $6,000
(being the sale of equipment is recorded)
(c)
Cash $22,000
Accumulated Depreciation $36,000
Loss on Sale of Equipment $15,000
To Equipment $73,000
(being the sale of equipment is recorded)
(d)
Depreciation $9,000 [($73,000 - $13,000) ÷ 5 × 9 ÷ 12]
To Accumulated Depreciation $9,000
(Being depreciation expense is recorded)
Cash $22,000
Accumulated Depreciation $45,000 ($36,000 + $9,000)
Loss on Sale of Equipment $6,000
To Equipment $73,000
(being sale of equipment is recorded)
To add Line sparklines in the range F5:F10 based on the data in the range B5:E10, please follow these steps:
1. Select the range F5:F10.
2. Go to the "Insert" tab in the Excel ribbon
To add line sparklines in the range F5:F10 based on the data in the range B5:E10, follow these steps: Select the range F5:F10., Go to the "Insert" tab in the Excel ribbon.
Open the Excel spreadsheet and navigate to the worksheet containing the data.
Click and drag to select the range F5:F10 where you want to insert the line sparklines.
Switch to the "Insert" tab in the Excel ribbon at the top of the window.
Look for the "Sparklines" group within the "Insert" tab.
Click on the "Line" sparkline option to insert line sparklines.
A dialog box will appear where you need to specify the data range. In this case, the data range is B5:E10.
Select the data range B5:E10 by clicking and dragging over the cells containing the data.
Click "OK" to confirm and insert the line sparklines into the selected range F5:F10.
Now you should see line sparklines representing the data in the range B5:E10 within the range F5:F10.
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Employees should be included in deciding cost control strategies.
True
False
What negative consequences might a company face if it fails to keep accurate financial records?
Answer:
they can be audited
Explanation:
the government will step and and demand a record of all their revenue that they have not sent in and if their records doesn't match the records of the government they can be forced to shut down.
what objects are necessary for the formation of shadows ?
Answer:
The following three things are required for a shadow to form:
a source of light.
an opaque object.
a screen or surface behind the object.
which of the following key performance indicators can be used to measure whether each store is meeting its sales goal
One of the key performance indicators which can be used to measure whether each store is meeting its sales goal is known as:
Revenue growthWhat is Revenue Growth?This refers to the amount of money which a given company makes over a period of time as it increases from a previous time period.
With this in mind, we can see that revenue growth is one of the many key performance indicators that shows whether each store is meeting its sales goal.
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What is the purpose of the CSS Profile?
OA. It demonstrates your social intelligence.
OB. It provides greater financial detail.
OC. It is a loan application.
D. It demonstrates your skills and attributes.
The CSS Profile provides greater financial detail for college admissions and financial aid through a more detailed assessment of a student's family income, assets, and expenses.
The purpose of the CSS Profile is to provide greater financial detail for college admissions and financial aid. It is a form used by some colleges and universities to assess a student's eligibility for non-federal financial aid, such as institutional scholarships and grants.
The CSS Profile collects more detailed information about a student's family income, assets, and expenses compared to the Free Application for Federal Student Aid (FAFSA).
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under the investment advisers act of 1940, which of the following statements is false about the acceptance of prepaid advisory fees by an investment adviser?
Under the investment advisers act of 1940, an investment adviser may accept a prepaid advisory fee if the fee is refundable or credited pro-rata if services are not provided. This is a true statement. There are different fees that investment advisers charge for their services.
It can be a percentage of the total assets under management (AUM) or a flat fee. In some cases, the adviser may accept a prepaid advisory fee.
The investment advisers act of 1940 allows an adviser to accept such a fee if it is refundable or credited pro-rata if services are not provided.
This is to ensure that the investor does not lose their money if they cancel the services before they receive them or if the adviser is unable to deliver the services promised.
One false statement about the acceptance of prepaid advisory fees by an investment adviser is that the adviser is allowed to keep the entire fee even if services are not provided.
This would be unethical and against the rules set out by the investment advisers act of 1940.
Therefore, it is important for investors to read and understand the terms and conditions of the agreement before paying a prepaid advisory fee. A reputable investment adviser will be transparent about their fees and how they work.
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Charles Adams deposited $1,000 in a savings account that earns 4%
interest compounded monthly. He made no other deposits or
withdrawals. What was the amount in the account at the end of 2
months? How much is the compound interest?
$1,006.67 and $6.67
$1,013.67 and $13.67
О. $1,020.10 and $20.10
$1,040.40 and $40.40
Answer:
$1,013.67 and $13.67
Explanation:
The formula for calculating compound interest is as follows
FV = PV × (1+r)^n
Where Fv is the future value
Pv is the present value, $1000
r is the interest rate 4%
n is number of periods= 2 months
Since time is in months, applicable interest rates will be 4% per year divided by 12 months multiplied by 2
=4/12 x 2 =0.67%
Fv = $1000 x (1 + 0.67/100)^2
Fv = $1000 x (1.0067)^2
Fv = $1000 x 1.01344489
Fv= $1,013.44
The amount will be $1,013.44.
Interest will be $1,013.44 - $1000 = $13.44