Life insurance by buying policies through fee-only financial planners and brokers who operate on a fee-basis do, in fact, collect up front fees for their services as well as commissions on any trades they execute on a client’s behalf.
In fact, an advisor falls under this category if they receive income from any other source outside management fees.As the advisor may suggest stocks or investments where they stand to profit, even if it is not in the client’s best interest, there is a potential for a conflict of interest here.Financial planning advice that is the most objective can typically be found from fee-only planners.Financial planners that exclusively accept fees are registered investment advisors. They are required by law to operate in the interests of their clients.Because their income is not based on the sale of goods, they have fewer inherent conflicts of interest and may give their clients more thorough counsel.
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cantrell company is required by law to collect and send sales taxes to the state. if cantrell has $8,500 of cash sales that are subject to an 7% sales tax, what is the journal entry to record the cash sales?
the entry in the journal to reflect the cash sales:
Cash- (Dr.) $9,095
Sales- (Cr.) $8,500
Sales Taxes Payable- (Cr.) $595
What do sales mean in a business context?Sales in everyday business operations refer to any transactions where money or something of value is exchanged for the right to possess a good or obtain a service. When referring to a company's income from the sale of goods or services, accountants use the term "sales."
What items require payment of sales tax?In an account known as sales taxes payable, a company keeps track of the total amount of sales taxes that it has collected from customers on behalf of a governing tax authority. As the custodian of these funds, the business is accountable for timely remitting them to the government.
The Sales Taxes Due are as follows:
Sales Taxes Payable= Sales × Sales Tax Rate
Sales Taxes Payable= $8,500 × 0.07= $595
( A Credit to Sales Taxes Payable)
The amount of money received is:
Cash received= Sales + Sales Taxes Payable
Cash Received = $8,500 + $595 = $9,095
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FILL IN THE BLANK. after successfully overcoming a potential customer's objection to buying the vacuum cleaner he was selling, terrence, a salesperson, asked the customer for an order. terrence is in the ___ stage of the selling process. follow-up approach preapproach closing prospecting
Terrence is at the point where the sale is closing.
What is in demand?Selling is the process by which one person persuades another person to buy a product or use the services that a business is providing.The fact that the guy was persuaded that he needed to buy a vacuum cleaner indicates that he is prepared to make the purchase.Terrance merely inquired as to the customer's order, i.e., the number he would want to purchase or the kind of vacuum cleaner he intended to purchase. As a result, choice D is the best one.Clothing will dominate the market in the years to come. Mobile phones, consumer electronics, footwear, fast food, dietary supplements, beauty products, personal hygiene products, kitchenware, home décor, and other commodities are also in high demand from online shoppers.To learn more about demand refer to
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High levels of unemployment combined with high levels of inflation could indicate that the business cycle has entered into a period of —.
knowledge check 01 when a manager has control over and is accountable for cost, profit or investments of an organization, it is called .
When a manager has control over and is accountable for cost, profit or investments of an organization, it is called responsibility center.
An operational unit within a company known as a responsibility center has its own aims and objectives, managing workplace, guidelines and procedures, and financial statements. It is employed to assign managers explicit responsibility for the money invested, spent, or revenue generated. This allows senior managers of a corporation to link individual personnel to particular investment actions and commercial outcomes. This ensures that responsibility is maintained, and it's also possible to do is provide personnel bonuses.
A firm may have several responsibility centers, but there should be at least one. Consequently, a responsibility center is usually a division of a company. These centers are typically listed on an organization chart for a company.
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On March 1, 2022, Oriole Company acquired real estate, on which it planned to construct a small office building, by paying $81,000 in cash. An old warehouse on the property was demolished at a cost of $10,000; the salvaged materials were sold for $2,900. Additional expenditures before construction began included $3,200 attorney's fee for work concerning the land purchase, $5,500 real estate broker's fee, $11,100 architect's fee, and $17,800 to put in driveways and a parking lot.
Determine the amount to be reported as the cost of the land.
Cost of the land $enter the Cost of the land in dollars
For each cost not used in previous part, indicate the account to be debited.
Account to be debited enter an account title $enter a debit amount enter an account title $enter a debit amount
$125,700 amount to be reported as the cost of the land. Expense is required for the asset to be used.
All expenses involved in putting an asset into use are included in the cost of the item. These consist of the item's price after all sales and discounts, sales tax, freight costs, etc.
As long as the expense is required for the asset to be used, it will be capitalised together with the asset's original cost. Other expenses, such as maintenance and insurance charges, are deducted from the asset's cost instead of being included in it.
This is why the reported price of the land
= $81,000 + $10,000 - $2,900 + $3,200 +
= $5,500+ $11,100 + $17,800
= $125,700
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if government borrows to cover budget deficits, and everything else is held constant, what is proposed by the crowding out concept is that
If government borrows to cover budget deficits, and everything else is held constant, what is proposed by the crowding out concept is that increasing interest rates decrease spending and borrowing by households and businesses.
How does the crowding-out effect work?
The crowding out effect describes a situation in which rising interest rates cause a decline in private investment spending, which dampens the initial rise in total investment spending.
An economic concept known as the "crowding out effect" describes how government investment reduces private sector spending and may have more direct repercussions. A situation known as "crowding out" occurs when all of the available economic credit is absorbed by government borrowing. Interest rates rise as a result of this. As a result, private companies and individuals believe that borrowing money to finance growth and expansion is prohibited, which lowers their costs.
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Chapter 4 deals with emotions, attitudes, and stress. Why should organizations be concerned with occupational stress? What can organizations do to reduce workplace stress, and what can they do to help employees cope with it? What effect does stress have on performance? Is there such a thing as too little stress?
Occupational stress is stress that is in the workplace. The leading causes of this stress are Job Security, people issues, workload and the balance of work and home life.
There are two types of stressors in the workplace: hindrance and challenge. Challenge stressors are associated with workload, job demands, job complexity, and deadlines and are positively related to motivation and performance. Hindrance stressors are ones that inhibit progress toward objectives . Organizations should be concerned with occupational stress because it can have a negative effect on productivity, workplace attitude, attendance, and happiness. Workplace stress can also become contagious as the attitudes of a worker fall, the stress levels of their coworkers are likely to rise and their attitudes likely to turn sour as well.Employee support is crucial for organizations when it comes to combating the negative effects of stress in the workplace. Organizations should be proactive when it comes to coping with stress. They should encourage open and honest conversations in the workplace. This will encourage employees not to take on more than they can handle. They should also provide support to employees, offering time off to deal with mental health and time to spend with family when needed.
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Eva is going to invest in an account paying an interest rate of 6. 5% compounded annually. How much would eva need to invest, to the nearest cent, for the value of the account to reach $41,000 in 13 years?.
With an annual compound interest rate of 6.5%, in order to get her investment to $41,000 in 13 years, Eva will need to invest $18,081.69
Compound interest is an interest paid on investment that is compounded with the accumulation of principal plus interest from the preceding period. Given that the final amount of a 13 year investment with 6.5% is $41,000. We will then calculate the principal amount with the following formula:
P = Principal
A = Accrued amount (Principal + Interest) = $41,000
r = Annual nominal interest rate as a decimal = 6.5/100 = 0.065 per year
n = number of compounding in a year = 1
t = time in years = 13 years
[tex]P = A / (1 + r/n)^{nt}[/tex]
P = 41,000/(1+0.065/1)⁽¹⁾⁽¹³⁾
P = 18,081.69
Therefore at the beginning, Eva will have to invest a principal of $18,081.69
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alex orders 50 bottles of champagne from a french distributor at a price of $75 per bottle. 2. a u.s. company sells 200 transistors to a spanish company at $15.00 per transistor. 3. clancy, a u.s. citizen, pays $900 for a tv he orders from cosmart (a u.s. company).
Alex's transaction is an import; he is trading for goods from another country.
What is the value of import and export?Imports are goods or services brought into the country from another, whereas exports are goods and services produced in the home country for sale in other markets. Thus, whether you import or export a product (or both) is determined by your transactional orientation.Given,
50 bottles at $75 each add up to $3,750.
The US company's sales abroad will be considered export.
The total cost of 200 transistors at $15 each is $3,000
The international trade balance will be 3000 minus 3750 = 750.
The citizen who makes a purchase from a national company contributes to the GDP.
as well as the international trade balance
GDP = 900 - 750 - 150 = 150
3750 imports
3,000 exports
-750 in net exports
GDP = 900 - 750 = 150
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a baker wants to establish a pie factory. the cost of leasing the factory is $1,000 per day. the profit-maximizing quantity of pies is 1,000 pies a day. each pie sells for $3 and costs only $2.10 to make. which of the following is a correct conclusion based on this information?
The correct conclusion based on this information is baker should not enter the industry.
What is the profit-maximizing quantity and price?The amount that maximizes profits will be reached when MR = MC, or at the very last moment before marginal expenses start to outpace marginal income. MR = MC happens at an output of 5. The monopolist will set prices based on what the market will bear.The amount of goods produced at which marginal revenue equals marginal cost, or when MR = MC, is the decision that will maximize profits for the monopoly. If the monopoly produces less, MR > MC at those output levels, and the firm can increase profits by increasing output.The company is in the red and must lower its output when marginal revenue is less than marginal cost. Therefore, when a company selects a level of output where its marginal revenue matches its marginal cost, profits are maximized.Learn more about profit-maximizing quantity refer to :
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the xano company reported merchandise inventory at lifo of $450,000 on the year-end financial statements. the company also reported a lifo reserve of $34,000. an estimate of the inventory balance if the inventory had been reported using the fifo assumption is
On the financial statements for the end of the year, the Xano company said that its inventory of goods was $450,000 at the time. A $34,000 lifo reserve was also disclosed by the business. If the inventory had been recorded using the fifo assumption, an estimated inventory balance would be $484,000.
FIFO Inventory is $484,000 (LIFO Inventory is $450,000) + LIFO Reserves are $34,000.
The First-in First-out (FIFO) approach of inventory valuation is predicated on the notion that things are used or sold in the same chronological order as they are purchased. In other words, the earliest purchased or manufactured commodities are sold/removed and expensed first according to the first-in, first-out method. Until the higher tax liability is taken into account, FIFO is the perfect valuation method for companies that need to impress investors.
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the level of corporate culture that cannot be seen but can be discerned from how people explain and justify what they do is:
The level of corporate culture that cannot be seen but can be discerned from how people explain and justify what they do is invisible culture.
A group of people's culture can be used to define a variety of characteristics about them, including their language use, worldviews, social structure and even the cuisine they consume. Almost all facets of civilization are influenced by culture. The term "invisible culture" refers to a certain kind of culture.
The intangible components of a culture are referred to as invisible culture. Belief systems, values and unwritten conventions are a few examples of different sorts of invisible culture. Specific examples of invisible culture include ideas about gender, underlying religious convictions that shape society and what is most important (family, freedom, money, etc.).
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during the airing of a major sitcom the actors eat a popular cereal for breakfast. this type of advertising is known as:
During the airing of a major sitcom the actors eat a popular cereal for breakfast. this type of advertising is known as product placement.
Product placement is a current vending approach for manufacturers to attain their target audiences without the use of overt conventional advertising and marketing. Embedded advertising is any other time period for product placement because the product is embedded in any other form of media.
Product placement, also known as embedded advertising and marketing, is a advertising method where references to unique manufacturers or merchandise are integrated into any other work, together with a film or television software, with unique promotional intent.
Historically there have been three fundamental kinds of product placement; display placement, script placement, and plot placement.
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bonds may not always be issued at face value. if a bond is issued at less than face value, what can be concluded about the bond?
A discount bond may be a bond that's issued at a cheaper price than its face value or a bond that's commerce within the secondary market at a price that's below the face value.
It's just like a zero-coupon bond, solely that the latter doesn't pay interest till maturity. A bond's face price is the quantity the institution provides to the investor once maturity is reached.
A bond might either have a further charge per unit, or the profit could be primarily based on the rise from a below-par original issue value and, therefore, the face price at maturity.
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which of the following is not an attribute of a national or country-specific environment that has an impact on global competitiveness of companies located within that nation?enses
The attribute of a national or country-specific environment that has not have an impact on global competitiveness of companies located within that nation is Advertising expenses.
Country-specific environment
It refers the part of the external environment of an organization with which it interfaces in the course of conducting its business.
Given,
Here we need to find the attribute of a national or country-specific environment that has not have an impact on global competitiveness of companies located within that nation.
As per the given list of option in the country specific environment concept, the attribute advertising expanses will not present on the country specific environment.
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What are the 3 things a business plan should do?.
Three things a business plan should do are to outline the products that the firm will sell, market analysis, and financial planning.
A business plan outlines the goals and strategies of a company. It is a road map that contains the marketing, financial strategies, and other operational details of established companies or start-ups. A well-written business plan must include what products and services the company will produce and sell. It will decide the cost of production, pricing, lifespan, and benefits of the products or services.
A business plan will also have a market analysis to assess the competition in the market and assess its advantages and disadvantages in the market. It will help in building the strengths of the company and improve the weakness too. Financial planning is another important criterion mentioned in a business plan where the budget decisions and monetary policies are decided to maintain cash flow in the company.
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a building is acquired on january 1 at a cost of $970,000 with an estimated useful life of eight years and salvage value of $87,300. compute depreciation expense for the first three years using the double-declining-balance method.
Depreciation expense for the first three years using the double-declining-balance method is: Year 1 = $196,000, Year 2= $156,800 and Year 3= $125,440.
What does a depreciation actually mean?Depreciation is the term used to describe the ongoing, gradual reduction in the book value of fixed assets. This type of shrinkage is determined using the asset's purchase price rather than its market value.
What does depreciation mean in accounting?Depreciation is a non-cash business expense that is calculated over the course of an asset's useful life for your business. Every organization can gain from depreciation by removing the cost of using up a portion of an asset's worth from taxable revenue.
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Gertrude Products expects the following sales of its single product: Required Gertrude has an ending finished goods inventory policy of10%of the next month's sales needs. Each unit requires 5 pounds of Chemical A and 14 pounds of Chemical B. July 1 materiais inventory includes 8,600 pounds of ChemicalAand 76,000 pounds of Chemical B. Gertrude desires to maintain a Chemical A inventory equal to20%of next month's production needs and a Chemical B inventory equal to100%of next month's production needs. a. Prepare a production budget for Gertrude Products for the quarter ending September 30 . Prepare a direct materials purchases budget for Chemical A for the quarter ending September 30 . Assume a desired ending nventory for Chemical A of 9,140 pounds at September 30, and a constant unit cost of$2.80per pound Note: Deductible answers must be indicated with a minus sign.
Identifies the quantity of finished items that must be produced each budgetary period to meet the targeted finished ending inventory as well as the anticipated sales needs .
Prepare a production budget ?Despite being prepared in finished goods units, the production budget can be used to determine a number of items on the budgeted financial statements, including:Units sold multiplied by cost per unit to determine the budgeted cost of the goods sold.Budgeted beginning and ending finished goods inventory calculated by dividing the number of units in the stock by the cost per unit. Unit production multiplied by cost per unit to determine the budgeted cost of goods manufactured.Required production units 10,000 8,000 8,500 9,000
X Direct labor hours per unit 0.6 0.6 0.6 0.6
= Total direct labor-hours needed 6,000 4,800 5,100 5,400
X Direct labor cost per hour $15.00 $15.00 $15.00 $15.00
= Total direct labor cost $90,000 $72,000 $76,500 $81,000
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is based on the idea that changes in exchange rates should balance the price of a basket of traded goods in a foreign country. multiple choice gross national product human development index purchasing power parity gross domestic product
Purchasing energy parity (PPP) is primarily based totally at the concept that modifications in change fees need to stability the charge of a basket of traded items in a overseas country.
The required details for purchasing power parity in given paragraph
One famous macroeconomic evaluation metric to examine monetary productiveness and requirements of dwelling among nations is buying energy parity (PPP). PPP is an monetary principle that compares special nations' currencies thru a "basket of items" approach, now no longer to be stressed with the Paycheck Protection Program created with the aid of using the CARES Act. Purchasing energy parity (PPP) is a famous metric utilized by macroeconomic analysts that compares special nations' currencies thru a "basket of items" approach.
Purchasing energy parity (PPP) lets in for economists to examine monetary productiveness and requirements of dwelling among nations. Some nations alter their gross home product (GDP) figures to mirror PPP.
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Ginger purchased a single-premium deferred annuity ten years ago at age 45. She used $40,000 of after-tax funds she had accumulated over fifteen years. She decides to surrender the annuity for a lump-sum distribution of its $90,000 value. Which of the following statements is correct?
Group of answer choices
Ginger will owe income taxes on $50,000
Ginger will owe income taxes on $90,000.
Ginger will owe income taxes and a 10% penalty on $90,000.
Ginger will owe income taxes and a 10% penalty on $50,000.
Ginger will owe income taxes and a 10% penalty on $50,000 of the following statements is correct.
Taxable Amount = ( $90,000 - $40,000 ) = $50,000
As the Distribution of Fund is at age 45 which is less than 59.5 , then it subject to 10% penalty
An income tax is a tax imposed on people or entities in respect of the earnings or income earned by means of them. profits tax usually is computed because the made of a tax charge instances the taxable income. Taxation quotes may additionally vary by kind or characteristics of the taxpayer and the kind of earnings.
For instance, if you earn $1,000 in a kingdom with a flat earnings tax fee of 10%, $one hundred in earnings taxes have to be withheld from your paycheck whilst you earn that profits.
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what causes balance sheet exposure to foreign exchange risk? how does balance sheet exposure compare with transaction exposure?
When a foreign currency balance is converted at the current exchange rate, balance sheet exposure results.
How does transaction exposure compare to exposure on the balance sheet?The foreign currency item is effectively revalued in terms of U.S. dollars on the consolidated financial statements by translating at the current exchange rate. Depending on whether assets translated at the current rate are higher or less than liabilities translated at the current rate, there will either be a net asset balance sheet exposure or a net liability balance sheet exposure.
A translation adjustment is produced by balance sheet exposure but does not cause a cash inflow or outflow. Transaction exposure, which is caused by receiving or exchanging foreign currency, results in realized foreign exchange profits and losses in cash.
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Which of the following statements are correct (Note: Cost of Capital means the same thing as Unlevered Cost of Equity)?
Cost of Capital and WACC are the same thing.
Cost of Capital depends on the tax effect of debt.
WACC depends on the tax effect of debt.
WACC is less than Cost of Capital.A.Statements 1 and 3 are correct.
B. Statements 1 and 4 are correct.
C. Statements 2 and 3 are correct.
D. Statements 3 and 4 are correct.
E. Statements 2 and 4 are correct.
Due to the fact that the cost of debt is lower than the cost of equity, the unlevered cost of capital is typically higher than the levered cost of capital.
Explain about the unlevered cost?
Unlevered cost of capital is the price a business would pay to finance a project on its own, without taking on debt. It offers an implied rate of return, assisting investors in making educated investment decisions.
Unlevered refers to something that is without leverage, since it does not account for the cost of any loan that might be employed to run a firm. Bonds or bank loans are the two most common forms of debt. Unlevered free cash flow is the sum of the business's accessible cash before deducting interest payments on debt.
The cost of a corporation funding a capital project without taking on debt is represented by the unlevered cost of capital.
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elect the true statement concerning test marketing. a. test marketing is simply an extension of the screening and developing stages. b. large corporations usually launch test-marketing efforts in one small area at a time. c. test marketing should be conducted after all the marketing mix variables have been finalized. d. test marketing is a limited introduction of the product in areas chosen to represent the intended market. e. if the product is successful in the test market, then it is ensured of success upon total introduction
D. test marketing is a limited introduction of the product in areas chosen to represent the intended market is the true statement concerning test marketing.
Advertising and marketing is the activity, set of establishments, and tactics for growing, speaking, delivering, and changing offerings which have fee for customers, clients, partners, and society at massive.
It's far, in brief, an motion taken to deliver attention to a enterprise' offerings; they may be bodily items on the market or services offered. not unusual examples of advertising at work consist of tv advertisements, billboards at the side of the street, and mag advertisements.
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once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. this challenge can be undertaken by completing a(n) analysis.
The firm must do Competitor/Competitive Analysis.
What is Competitor Analysis?
It is the process of identifying competitors within an industry and researching their different marketing strategies as well their strength and weaknesses.
It includes scrutinization of competitor's features, market share, pricing, marketing, differentiators, strengths, weaknesses, geography, culture, and customer ratings
It is also known as Competitive Analysis.
Components of Competitor's Analysis:
Porter's 5 ForcesSWOT AnalysisBusiness ModelsCustomer Journey Map or Supply Chain Management ModelsWhat is the purpose of Competitor/Competitive Analysis?
The purpose of competitive analysis is to understand the strengths and weaknesses of competitors compared to your company and to find gaps in the market.
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A representative from a nationally known cookie manufacturer is at a local supermarket distributing samples of a new flavor of cookie that the company has just introduced. The cookie manufacturer is implementing ________ in giving away samples of the cookie.
By providing free samples of the cookie, the cookie company is promoting sales in the current scenario.
What is sales promotion?One component of the promotional mix is sale promotion.
Advertising, personal selling, direct marketing, and publicity/public relations make up the bulk of the promotional mix.
In order to boost customer demand, generate market demand, or improve product availability, sales promotion employs both media and non-media marketing communications for a predetermined, brief period of time.
Examples include giveaways, coupons, discounts, point-of-purchase displays, premiums, prizes, free samples of goods, and rebates. Sales campaigns might target customers, salespeople, or anyone in the distribution chain (such as retailers).
Consumer sales promotions are marketing campaigns that are aimed at consumers.
Trade sales promotions are advertising campaigns aimed at wholesalers and retailers.
So, by providing free samples of the cookie, the cookie company is promoting sales in the current scenario.
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exercise 22-19 (algo) schedule of cash payments lo p2 zisk company purchases direct materials on credit. budgeted purchases are april, $90,000; may, $120,000; and june, $130,000. cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. purchases for march are $80,000. prepare a schedule of cash payments for direct materials for april, may, and june.\
The Total Cash Payment for April is $150,000, The Total Cash Payment for May is $142,500, The Total Cash Payment for June is $160,000
What is Cash Payment?
Cash payments are made to the provider of goods or services by the recipient in the form of bills or coins. It may also entail paying employees within a company for the hours they worked or compensating them for small expenses that are too small to be processed thru the accounts payable system. Individuals without bank accounts or those attempting to hide an income tax liability prefer to make cash payments. In an environment where there is inflation, cash payments made inside a hard currency are preferred because they retain their value much better than that of the local currency.
April:
March Purchases: $60,000 (75% of $80,000)
April Purchases: $90,000 (100% of $90,000)
Total Cash Payment for April: $150,000
May:
April Purchases: $22,500 (25% of $90,000)
May Purchases: $120,000 (100% of $120,000)
Total Cash Payment for May: $142,500
June:
May Purchases: $30,000 (25% of $120,000)
June Purchases: $130,000 (100% of $130,000)
Total Cash Payment for June: $160,000
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a decision to invest in an electronic data interchange system that would increase invoice accuracy should result in a lower amount of accounts receivable. true false
The statement 'a decision to invest in an electronic data interchange system that would increase invoice accuracy should result in a lower amount of accounts receivable' is true.
In the field of business, accounts receivable can be described as the money that a company or a business has to take from an organization for a product that the company has delivered to the customer but has not received the payment yet.
An electronic data interchange will allow customers to pay for their purchases at that particular time when a purchase is being made. It will be reliable for customers to pay through the electronic data interchange and hence would lower the accounts receivable.
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Reallocation of a retirement portfolio is important to maintain an appropriate level of risk over time. What general investment rule does old doc white recommend to help you reallocate your portfolio as you get older?.
The general investment rule does old doc white recommend to help you reallocate your portfolio as you get older is Doc White's sure-fire rule.
What is the objective of a retirement portfolio?To create a source of income that can accumulate and raise the value of your investment, your retirement portfolio should have as its primary objective. You are able to live comfortably in your latter years because of the money it gives.
Doc White's sure-fire rule, which helps retirees determine a safe withdrawal rate for each year, is the basic investment strategy that old doc White advises to assist you to reallocate your portfolio as you age.
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What is the market where loans are made to borrowers?.
Secondary loan market is the market where loans are made to borrowers.
Home loans and servicing rights can be bought and sold between creditors and borrowers in the secondary mortgage market. Lenders who issue newly originated mortgages sell a significant portion of those mortgages into this secondary market, where they are bundled into mortgage-backed securities and sold to investors like hedge funds, pension funds and insurance companies. Because of its size and liquidity, the secondary mortgage market contributes to equal access to credit for all borrowers worldwide.
Loan issuers are able to continue funding new loans because of the secondary mortgage market. Mortgage rates would be substantially higher than they are if this market didn't exist, and most people wouldn't even be able to pay for a home.
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for most restaurants, the average total cost curve (fill the blank) at (fill the blank) levels of output, then (fill the blank) at (fill the blank) levels.
The long-run average cost curve depicts the output level with the lowest overall cost over time.
Which three cost curves exist?
Total Cost (TC), Average Cost (AC), and Marginal Cost (MC) are the three distinct cost curves.
What is remembered for normal all-out cost?
The average total cost is calculated by dividing the total output by the total costs of production. To put it another way, the average cost is the sum of the firm's total fixed and variable costs divided by the number of units produced.
What is the formula for the total cost curve?
Costs in total are equal to the sum of fixed expenses, variable costs per unit of A, and variable costs per unit of B.
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