Based on the information given, the balance of the Retained Earnings account must be $700. (Option C)
How do you determine the balance of retained earnings?To determine the balance of the Retained Earnings account, we need additional information such as the net income of the Coastal Company, as well as any dividends paid to shareholders.
However, we can use the accounting equation to help us determine the balance of the Retained Earnings account:
Assets = Liabilities + Stockholders' Equity
In this case, we have:
Assets = $500 (Cash) + $800 (Land) = $1,300
Liabilities = $200 (Notes Payable)
Stockholders' Equity = $400 (Common Stock) + Retained Earnings
We can rearrange the accounting equation to solve for Retained Earnings:
Retained Earnings = Assets - Liabilities - Common Stock
Retained Earnings = $1,300 - $200 - $400 = $700
Therefore, based on the information given, the balance of the Retained Earnings account must be $700.
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The complete question is:
The accounting records of Coastal Company contained the following account balances. Cash Land Notes Payable Common Stock $500 $800 $200 $400 The records also contained an account titled Retained Earnings. Based on this information the balance of the retained earnings account must be Multiple Choice $900 $500 o $700
a developer purchases 2 lots with 120 ft. frontage each and paid $120,000 total for both lots. he divides these lots into 4 lots of 60 front feet each and sells them for $600 per front foot. what is the developer's percentage of profit?
A developer buys 2 lots, each 120 feet, paying a total of $120,000 for the 2 lots. Developer profit percentage is 20%
The required details about profit is given below.
Profit describes the financial benefit realized when the revenue generated by a business exceeds the expenses, costs, and taxes associated with maintaining the business. Any profits made are diverted to entrepreneurs, who pocket the money, pay it out as dividends to shareholders, or reinvest in the company. Profit is calculated as Total Revenue minus Total Expense.
Companies disclose their net profit ("Net Profit"), operating profit, and gross profit for accounting purposes.
2 x 120 feet = 240; 240 feet of façade x $600 = $144,000 in revenue; $144,000 - $120,000 = $24,000 profit; $24,000 divided by $120,000 = 0.2 or 20%
Profitable companies are attractive to investors because profits flow back to shareholders as dividends or are reinvested in the company, increasing the value of the stock.
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the two types of control procedures are preventive and representative
The statement is incorrect the two types of control procedures are preventive and detective.
A control procedure is what?Control procedures are actions a business does to maintain an effective accounting system. Control procedures are often described as a series of actions taken by a business to maintain the integrity of its accounting system.
What exactly are internal controls?Internal checks often consist of duty separation, authorization, documentation, reconciliation, and other control procedures. A corporation implements internal controls to guarantee the integrity of accounting and financial data, encourage accountability, and guard against fraud. By increasing accuracy, internal controls can aid in increasing operational efficiency.
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what is the extent to which a change in price causes a change in the quantity demanded?
The degree to which a change in price results in a change in the quantity desired is known as demand elasticity. When a change in price results in a disproportionately bigger change in the quantity required, demand is elastic.
What are the elements that might alter the quantity demanded?Changes in tastes, population, income, the cost of substitute or complementary goods, and expectations regarding future conditions and prices are just a few of the variables that can cause the demand curve for goods and services to shift, resulting in a different quantity being demanded at any given price.
A shift in the price of a good or service does not affect the demand; rather, it causes movement along a particular demand curve and often results in some change in the quantity sought.
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most of the easily accessible oil and gas fields are in the early part of their production life expectancies. group of answer choices true false
Most of the easily accessible oil and gas fields are in the early part of their life expectancies - False
Most readily accessible oil and gas reserves have already been found and exploited, and they are now nearing the end of their useful lives. It gets more difficult and expensive to extract the remaining oil and gas as these fields are near their useful lifespan. This is due to the fact that the residual supplies are frequently located in smaller, more dispersed pockets, necessitating the adoption of more sophisticated extraction techniques like deep-sea drilling and hydraulic fracturing.
Because of this, the oil and gas sector is continuously looking for new deposits, frequently in more complex or isolated areas such as deep underground or offshore. These new assets may also require substantial expenditures in infrastructure and technology to access, and are often more expensive and challenging to extract.
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cross corporation has net income of $4,095. their retention ratio is 65%. how much will they payout in dividends this year?
Cross Corporation will payout $1,433.25 in dividends this year.
The percentage of net income that a corporation keeps in the company after paying dividends is known as the retention ratio. Cross Corporation's retention ratio in this instance is 65%, which indicates that the business will keep 35% of its net profits.
To calculate the amount of dividends that Cross Corporation will payout, we first need to calculate the amount of net income that they will retain:
Net income retained = Net income x Retention ratio
Net income retained = $4,095 x 0.65
Net income retained = $2,656.75
The amount of dividends that Cross Corporation will payout is the difference between its net income and the amount retained:
Dividends paid = Net income - Net income retained
Dividends paid = $4,095 - $2,656.75
Dividends paid = $1,433.25
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suppose when the price of pizza goes from $8 to $12 per pie, production increases from 2,500 pies to 4,000 pies per month. using the mid-point method, what is the percentage change in price?
When the price of pizza goes from $8 to $12 per pie, production increases from 2,500 pies to 4,000 pies per month. using the mid-point method then the percentage change in price is 40%.
What is the price elasticity midpoint method?The midway technique determines the elasticity of supply and demand by calculating the average percent change in a good's price and the amount supplied or sought.
Why use the midpoint elasticity method?The benefit of using the midpoint method is that we can determine whether there is a price increase or drop and still receive the same elasticity between two price points. This is so because the base for the formula is the same in both scenarios. Some textbooks refer to the midpoint approach as the arc elasticity.
Using the mid-point method,
Mid-point of initial price = ($8 + $12) / 2 = $10
Mid-point of final price = ($12 + $8) / 2 = $10
Change in price = $12 - $8 = $4
Percentage change = (Change in price / Mid-point of initial price) x 100%
= ($4 / $10) x 100%
= 40%
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Which situation has become more common as a result of globalization?
The situation that has become more common as a result of globalization is countries trading with partners all over the world. The correct option is option D.
What is Globalization?Globalization refers to the spread of the flow of financial products, goods, technology, information, and jobs across national borders and cultures. It is the the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Cross-border connectivity or integration, free trade environment and interdependency of nations are the main characteristics of globalization.
There are three types of globalization and they are economic globalization, political globalization, cultural globalization.
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state farm insurance company noticed a suspicious increase in claims due to flooding as a result of one whirlpool washing machine model made. apparently, the high-velocity spinning mode on this particular machine would begin too soon, resulting in a malfunction and an overflow of water. state farm reported this information to whirlpool, which immediately acted to notify its retailers and consumers by issuing a recall on the model to correct the problem. the voluntary recall served to prevent future accidents and damage to consumers' homes that state farm estimated could be up to $6,000 per customer. which factor influencing ethical decision making is demonstrated in this example?
Risk is the possibility or likelihood that someone would suffer harm or have a negative impact on their health as a result of being exposed to a danger. Hence option D is correct .
What is Probability of a harmful outcome ?It may also apply when there is a loss of property or equipment or when there are negative environmental repercussions.
According to EN ISO 14791: 2012, the probability of harm (Pharm) is determined by P1 x P2, where P1 is the likelihood of being exposed to a hazardous condition and P2 represents the likelihood that the hazardous situation would cause harm.
Risk is defined as the product of an event's likelihood and its effect. Consequences might be both favourable and unfavourable. take action on all of their risks in an effort to lower the possibility of failure and raise the likelihood of success.
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9. which of the following attributes is least important for sucessful project managers: a. ability to communicate with people b. ability to deal with people c. ability to create and sustain relationships d. ability to learn new technical skills e. ability to organize
Successful project managers need a combination of these attributes and other important skills to deliver projects on time, within budget, and to the satisfaction of all stakeholders involved.
Which of the following attributes is least important for successful project managers?The ability to learn new technical skills will be the correct option.
Effective communication is essential for project managers to convey their ideas, goals, and expectations clearly and to build effective teams. The ability to deal with people helps project managers navigate conflicts and difficult situations that can arise during a project. Creating and sustaining relationships is critical for project managers to establish trust and build rapport with stakeholders, team members, and clients.
Additionally, project managers should possess technical skills relevant to their field to manage and oversee project work. As technology evolves, a willingness to learn new technical skills can be important for project managers to adapt to new tools, techniques, and processes. Finally, effective organizational skills are necessary to prioritize tasks, manage resources, and stay on top of project timelines.
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the opponents of globalization argue that falling barriers to international trademultiple choice question.prevent countries from being interdependent on one another.reduce job opportunities in developing nations where wages are much lower.increase service jobs around the world.eliminate manufacturing jobs in wealthy economies.
The opponents of globalization argue that falling barriers to international trade reduce job opportunities in developing nations where wages are much lower.
Globalization refers to the increasing interconnectedness and interdependence of the world's economies, cultures, and populations. Opponents of globalization argue that the unrestricted movement of goods, services, and capital across borders has negative consequences, particularly for developing countries. One of the main arguments against globalization is that it leads to job losses in developing nations, where wages are lower, as companies relocate to take advantage of lower labor costs. This creates a race to the bottom, with countries competing to offer the lowest wages and fewest labor protections to attract investment. As a result, workers in developed countries lose jobs to outsourcing, while workers in developing countries may be exploited by companies seeking to cut costs.
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a form of corporation that has no more than 100 stockholders and eliminates the problem of double taxation is a(n)
A S corp is a type of corporation with no more than 100 shareholders that does away with the issue of double taxation.
What is double taxation?When taxes are imposed on the same income, assets, or financial transaction at two different times, this is known as double taxation. Taxing shareholder dividends after taxing company earnings is known as double taxation, and it can be beneficial economically. The practise of taxing the same income, asset, or financial transaction twice or more is known as double taxation. The DTA's primary goals are to allocate the right to taxation among the signatory nations, prevent disparities, guarantee the equality of taxpayers' rights and security, and stop tax evasion.
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assume that volvo could purchase the insurance for $5,000. lars is interested in getting health insurance, and he is willing to receive a lower salary in exchange for the health insurance. what is the least amount by which volvo would be willing to reduce lars's salary while agreeing to pay his health insurance?
We need to compare the cost of Lars' health insurance to the cost that Volvo would incur if they paid him the same salary and bought insurance for him in order to estimate the smallest amount by which Volvo would be willing to lower his income while agreeing to pay his health insurance.
Volvo would have to spend $5,000 if they want to cover Lars with insurance. Lars would have to accept a reduced wage if he wanted Volvo to cover his insurance costs. The lesser compensation that Lars would have to take would be equal to the price of the insurance that Volvo would be covering for him. Hence, $5,000 is the lowest salary reduction that Volvo would be ready to make while still paying for Lars' health insurance. This indicates the most that Volvo would be willing to spend on Lars's insurance because it is the amount that they would save if they bought the insurance directly.
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For each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting in the current period.
1. Receive cash from customers in advance, $560.
2. Pay utilities bill for the previous month, $130.
3. Pay for insurance one year in advance, $1800.
4. Pay workers' salaries for the current month, $760.
5. Incur costs for employee salaries in the current month but do not pay, $960.
6. Receive cash from customers at the time of service, $1500.
7. Purchase office supplies on account, $290.
8. Borrow cash from the bank, $3600.
9. Receive cash from customers for services performed last month, $710.
10. Pay for advertising to appear in the current month, $410.
The word "revenue" refers to profits from the sale of a government's primary goods or services. An expense is a cost incurred while creating or giving out a key.
What is Revenue and Expenses?When a business sells its products or services, the gross proceeds are referred to as "revenues" or "sales." In order to determine a company's net profit, costs associated with production must be subtracted as expenses from revenue.
Revenues and expenses are not the polar opposite financial results of the same actions, unlike profits and losses. While "revenue" relates to income obtained via the sale of a company's principal goods or services, "expense" refers to a cost incurred in the process of creating or supplying a primary business function.
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a company can invest funds for five years at libor minus 30 basis points. the five-year swap rate is 3%. what fixed rate of interest can the company earn by using the swap?
The investment of funds made by the company is at LIBOR minus 0.3%. A five-year swap is later entered into by the company where it pays LIBOR and receives 3%; thereby it earns 2.7% per annum.
A corporation is a community, a formal grouping of individuals with a common goal that may be natural, legal, or a combination of the two. Members of the company share objectives and collaborate to accomplish particular objectives.
If a member fulfils or fails to fulfil its responsibilities under a publicly proclaimed incorporation or published policy, the company, as a legal body, may be incorporated to restrict its own responsibility. Businesses may combine and jointly register as a new business. An enterprise group is a common name for the resultant organization.
When the companies invest at LIBOR minus 0.3% and afterwards enters into such a swap where everything pays LIBOR as well as receives 3%, this same annual return is 2.7%. It would be important to note that now the swap uses the bid rate.
Hence the correct option is D
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A company can invest funds for five years at LIBOR minus 30 basis points. The five-year swap rate is 3%. What fixed rate of interest can the company earn by using the swap?
a. 2.4%
b. 3.0%
c. 3.3%
d. 2.7%
government intervention in health policy-making allows for systematic reform and a comprehensive and coordinated approach to addressing market failures and deficiencies. group of answer choices true false
True. Government intervention in health policy-making can play a critical role in addressing market failures and deficiencies in the healthcare system.
For example, the government can use regulations and subsidies to incentivize healthcare providers to offer more affordable and accessible healthcare services. Additionally, the government can also use its purchasing power to negotiate lower prices for healthcare services and prescription drugs. Government intervention can also lead to the creation of public health initiatives, such as vaccination programs, disease surveillance, and health education campaigns, which can help to prevent or control the spread of diseases. By taking a comprehensive and coordinated approach to health policy-making, governments can improve the overall quality and accessibility of healthcare services and help to ensure that everyone has access to the care they need.
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which of the special occasion speeches could be delivered during a ceremony, but also delivered in workplace situations?
Acceptance speech could be delivered both at the workplace and on special occasions.
What function does the workplace serve?People are the focus of purpose-driven work. The location serves a purpose. It embodies culture, celebrates identity, and fosters human connection. Understanding business demands and work activities are necessary to redefine the future of work, starting with the distinctive business drivers of each firm.
How can we foster a positive work environment?The best way to foster a great workplace culture isn't governed by any strict guidelines. It requires doing the easy actions that business executives frequently overlook in order to foster a pleasant workplace culture. Embrace an Open Communication Culture. It takes open communication to create a cohesive team.
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1st - Hashim Khan, the owner, invested $57,500 cash and 32,500 of photography equipment in the
business.
4th - Paid $3,000 cash for an insurance policy covering the next 24 months.
7th - Services are performed and clients are billed for $10,000.
13th - Purchased office supplies for $1,400. Cash paid $400 and remaining outstanding.
20th - Received $2,000 cash in photography fees earned previously.
24th - A client immediately pays $15,000 for services to be performed at a later date (unearned service
revenue).
29th - In addition, the business acquires photography equipment. The purchase price is $100,000, pays
Explanation:
1st - Hashim Khan, the owner, invested $57,500 cash and 32,500 of photography equipment in the
business.
4th - Paid $3,000 cash for an insurance policy covering the next 24 months.
7th - Services are performed and clients are billed for $10,000.
13th - Purchased office supplies for $1,400. Cash paid $400 and remaining outstanding.
20th - Received $2,000 cash in photography fees earned previously.
24th - A client immediately pays $15,000 for services to be performed at a later date (unearned service
revenue).
29th - In addition, the business acquires photography equipment. The purchase price is $100,000, pays
jacob decided that the only way he could pay back his student loans was to filter funds from the company where he worked directly into his personal account. he also knows that if he gets caught, he will probably spend time in jail. jacob's choice represents a violation of:
Indictments for robbery, adultery, incest, & cannibalism are only a few examples of mores. Several societies have codified some mores as laws.
What does survival cannibalism entail?Emergency cannibalism refers to the use of cannibalism to prevent starvation rather than as a cultural practice (or survival cannibalism). Both the renowned Donner Team of 1846 and the Uruguayan rugby squad that perished in the Mountain Ranges of Chile in 1972 practiced this type of cannibalism.
When did the last cannibal go extinct?Even in modern times, people experiencing famine have occasionally turned to cannibalism as a last resort. Some well-known instances include the unfortunate Donner Party (1846–1877) and, less recently, the accident of Uruguayan Army Air Flight 571. (1972),
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Several studies found that strategic planning does not benefit smaller companies, as they very seldom see improvements in financial performance from this type of planning.True/False
False. While it is true that strategic planning may not always provide immediate financial benefits to smaller companies, it is not accurate to say that they "very seldom" see improvements in financial performance from this type of planning.
In fact, several studies have found that strategic planning can be beneficial for smaller companies. For example, a study published in the Journal of Small Business Management in 2016 found that small businesses that engaged in strategic planning were more likely to experience revenue growth and increased profitability compared to those that did not engage in strategic planning.
Additionally, strategic planning can help smaller companies identify and prioritize their goals, allocate resources more efficiently, and adapt to changes in the market, which can ultimately lead to improved financial performance.
Of course, the success of strategic planning depends on a variety of factors, including the quality of the planning process and the company's ability to execute the plan effectively. But overall, it is not accurate to say that smaller companies do not benefit from strategic planning.
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fujita, incorporated, has no debt outstanding and a total market value of $284,900. earnings before interest and taxes, ebit, are projected to be $44,000 if economic conditions are normal. if there is strong expansion in the economy, then ebit will be 18 percent higher. if there is a recession, then ebit will be 29 percent lower. the company is considering a $150,000 debt issue with an interest rate of 7 percent. the proceeds will be used to repurchase shares of stock. there are currently 7,700 shares outstanding. the company has a tax rate of 22 percent, a market-to-book ratio of 1.0, and the stock price remains constant. a-1. calculate earnings per share (eps) under each of the three economic scenarios before any debt is issued. (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a-2. calculate the percentage changes in eps when the economy expands or enters a recession. (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) b-1. calculate earnings per share (eps) under each of the three economic scenarios assuming the company goes through with recapitalization. (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b-2. given the recapitalization, calculate the percentage changes in eps when the economy expands or enters a recession. (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer: can you explain more
Explanation:
what is a trial balance? a summary document containing assets, liabilities, and equities and comprising one of the three primary financial statements a schedule reconciling the sum of the revenues with the sum of expenses and dividends a listing of all of the ledger accounts and their balances an initial transaction analysis performed whenever inventory is sold on credit
A trial balance is a listing of all of the ledger accounts and their balances.
A trial balance is a list of all the accounts a company has with their respective balances. The trial balance is a snapshot of the financial status of a company and is used to verify that the total debits equal the total credits in the general ledger. It is typically used to prepare financial statements, such as the balance sheet and income statement. It also helps detect errors in the accounting system before preparing the financial statements.
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Discuss whether providing substantial government financial support to banks is
the best policy response during a financial crisis
Providing significant government financial support to banks is the best fiscal policy during the financial crisis.
In general, the goal of most government fiscal policy is to target the overall level of spending in the economy, the overall composition of spending, or both. The two most common means of influencing fiscal policy are changes in government spending policy or government tax policy.
The government can increase spending if it determines that business activity in the economy is insufficient. This is often referred to as stimulus spending. When tax revenues are insufficient to finance increased spending, governments issue debt instruments such as government bonds to borrow money, building up debt in the process. This is known as deficit spending.
Monetary and fiscal policies refer to his two most widely used tools for influencing a country's economic activity. Monetary policy is primarily concerned with controlling interest rates and the total amount of money in circulation and is typically implemented by a central bank such as the United States Federal Reserve. In the United States, national fiscal policy is determined by the executive and legislative branches of government.
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your friend borrowed $200 to be repaid in one year. he paid 10 percent interest and a service charge of $3.00. what is his finance charge?
Your friend's finance charge for the loan is $23.00. He paid 10 percent interest and a service charge of $3.00
How may financial costs be avoided?The best method to prevent finance costs is to make on-time, complete payments of your outstanding obligations each month. No interest will be charged on your debt as long as you pay the entire amount due each month during the grace period (the time between the end of your billing cycle and the payment due date).
The smallest finance fee is what?If the accumulated balance on the card is so low that interest charges less than the minimum would incur for that billing cycle, a consumer may be subject to a minimum financing charge, which is a monthly credit card cost. The minimum finance fee for the majority of credit cards is $1.
To calculate the finance charge for your friend's loan,
we need to find the total amount of interest and service charge,
Calculate the amount of interest he paid:
Interest = Principal x Rate x Time
where Principal = $200, Rate = 10% = 0.1, and Time = 1 year
Interest = $200 x 0.1 x 1 = $20
Add the service charge of $3.00 to the interest:
finance charge = Interest + Service charge
finance charge = $20 + $3.00 = $23.00
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which scenario is an example of loyalty to a company in a consumer's daily life? multiple choice question. continuing to shop at dunkin' donuts even if starbucks opens more convenient locations and offers slightly lower prices buying a pepsi product from the campus vending machine because pepsi is the only vendor allowed on campus getting a haircut from the one barber in town who has an appointment available this afternoon ordering from pizza hut because there is a coupon in the mail offering a significant discount
The scenario that is an example of loyalty to a company in a consumer's daily life is continuing to shop at Dunkin' Donuts even if Starbucks opens more convenient locations and offers slightly lower prices.
Loyalty to a company means that the consumer consistently chooses to do business with a particular company over its competitors. In this scenario, the customer is demonstrating loyalty to Dunkin' Donuts by continuing to patronize the business even if Starbucks is more conveniently located and offers lower prices. This shows a preference for Dunkin' Donuts as a brand, and a willingness to prioritize that brand over lower prices or convenience.
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which of the following statement(s) is(are) true? multiple choice the realized nominal rate of interest is always greater than the real rate of interest. none of the options are true. certificates of deposit offer a guaranteed real rate of interest. inflation has no effect on the nominal rate of interest.
All the options are false. Nominal interest rate is affected by anticipated inflation rates. If gap between real rate and expected inflation rate was greater than realised nominal rate of interest, it would be negative.
What is the nominal interest rate?The interest rate before accounting for inflation is referred to as the nominal interest rate. The term "nominal" can also apply to the advertised or quoted interest rate on a loan, which excludes any fees or interest compounding.
What are the differences between the effective and nominal interest rates?Said interest rate is another term for nominal interest rate. Simple interest is used to calculate this interest; compounding periods are not taken into account. The effective interest rate is the one that takes into account the compounding times throughout a payment schedule.
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Iwasaki's position in the letter on the relationship between the Mitsubishi Company and the Japanese government is most clearly a response toA. Western governments gaining access to Japan's markets by imposing laissez-faire economic regimesB. Japan's policy of strict economic isolation and restricting cultural contacts with the WestC. concerns that Japan's aggressive economic and foreign policies were jeopardizing relations with its East Asian neighborsD. the prospect that the development of domestic shipping might lead to a war between Japan and Western countries
Iwasaki's letter is primarily a reaction to Western governments gaining access to Japanese markets through the imposition of laissez-faire economic regimes.
Why did trading nations want to engage with Japan? What was Matthew Perry's role in Japan, and what impact did he have?
They wanted to be able to refuel in Japan while sailing to and from China and other East Asian destinations. He led a naval force that sailed into Yedo and Tokyo Bay, requesting trade privileges.
While the US hoped that embargoes on oil and other key goods would persuade Japan to halt its expansionism, the sanctions and other penalties actually convinced Japan to stand firm and incited public outrage against continued Western meddling in Asian affairs.
Therefore, Western governments gained access to Japan's markets through the imposition of free-market economic regimes.
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under the requirements of the usa patriot act, when opening an account for a non-resident alien, the registered representative must obtain which of the following from the customer? a united states passport number b united states social security number c foreign country passport number d foreign country tax identification number
Under the requirements of the USA patriot act, when opening an account for a non-resident alien, the registered representative must obtain foreign country passport number and united states tax identification number.
What distinguishes resident aliens from nonresident aliens?
The paperwork involved and the type of income taxed are the key distinctions between the two.
In contrast to non-resident aliens, who are only subject to the tax rate on income derived from domestic sources, resident aliens in the United States must pay taxes on all of their income, regardless of where it was obtained.
What makes you a non-resident, exactly?
Except if you satisfy one of two conditions, if you are not a citizen of the United States, you are regarded as a nonresident of the United States for tax reasons.
If you pass the green card test or the significant presence test for the calendar year, you are a resident of the United States for tax purposes (January 1 – December 31).
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What four financial statements can be found in a firm's 10-K filing? What checks are there on the accuracy of these statements?
1. The statement of financial position.
2. The income statement.
3. The statement of cash flows.
4. The statement of stockholders' equity
The four financial statements that can be found in a firm's 10-K filing are: 1) the statement of financial position, 2) the income statement, 3) the statement of cash flows, and 4) the statement of stockholders' equity.
These financial statements provide important information about a company's financial health and performance.
There are several checks on the accuracy of these statements. First, the company's management is responsible for the accuracy and completeness of the financial statements. Second, the company's independent auditors review the financial statements and provide an opinion on their accuracy.
Third, the Securities and Exchange Commission (SEC) requires that the financial statements be filed in accordance with generally accepted accounting principles (GAAP) and may review the statements for compliance. Finally, investors and analysts also review the financial statements and may raise questions or concerns about their accuracy.
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suppose the price of good x, a giffen good, increases. which of the following statements are true? i. the substitution effect of the price increase causes consumers to buy less of good x. ii. the substitution effect of the price increases causes consumers to buy more of good x. iii. the income effect of the price increase causes consumers to buy more of good x. iv. the income effect of the price increase causes consumers to buy less of good x. a. i and iv b. ii and iii c. ii and iv d. i and iii
i. the substitution effect of the price increase causes consumers to buy less of good x.
iii.the income effect of the price increases causes consumers to buy more of good x.
A low-income, non-luxury product that defies conventional economic and consumer demand theory is known as a Giffen item. Giffen product demand increases with rising prices and decreases with falling prices. Contrary to the fundamental rules of demand, which produce a downward-sloping demand curve, this produces an upward-sloping demand curve in econometrics. The late 1800s saw the invention of the phrase "Giffen products," which was given in honour of renowned Scottish statistician, economist, and writer Sir Robert Giffen. Giffen goods are designed to be affordable, non-luxury items with few direct competitors. Giffen products can be related to Veblen goods, which focus on luxury items while also defying conventional economic and consumer demand theory.
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the sarbanes-oxley act requires that companies must: select one: a. document internal controls and assess their effectiveness each year b. conduct customer surveys each year to ensure satisfaction with products and services c. pay taxes owed to the internal revenue service by the tax filing date d. devise a budget each year to ensure cash outflows are not greater than cash inflo
The Sarbanes Oxley act requires that companies must: A) Document internal controls and assess their adequacy each year.
What obligations does the Sarbanes Oxley Act place on businesses?An Internal Controls Report is a requirement of the Sarbanes Oxley Act for all financial reports. This demonstrates that a company's financial data is accurate and that sufficient procedures are in place to protect it. Also necessary are year-end financial disclosure reports.
According to the Sarbanes-Oxley Act, public company management must evaluate the efficiency of issuers' internal controls over financial reporting. A publicly traded company's auditor is required by Section 404(b) to vouch for management's evaluation of its internal controls and to report on it.
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