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1 year ago

Is a liability that represents the amount the company owes to others as a result of issuing a promissory note.

1 answer:

4 0

A note payable is a financial document considered a liability that represents that it records that the company that signs it has the obligation to pay on the specific date.

<h3>What is a note payable?</h3>

It is a document that commits its issuer (the company) to pay a certain amount, within a specific period.

Its characteristic is the exchange action, which refers to the document being returned to the subscriber in exchange for payment.

Therefore, we can conclude that a note payable is a financial document considered a liability that represents that it records that the company that signs it has the obligation to pay on the specific date.

Learn more about a note payable here: brainly.com/question/25738368

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The government uses the revenue from taxes to pay for goods and services for the community. True False

nexus9112 [7]

The answer is true because without our tax maney we wouldnt have goods and services.

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3 years ago

Read 2 more answers

A mother earned $ 18750.00 18750.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home

BARSIC [14]

Answer:

a) $ 5000, $ 10000 b) $ 5000

Explanation:

The royalties money = $18750

She set aside 20% for new home which = 0.2 × 18750 = $ 3750

Amount remaining = 18750 - 3750 = $15000

She invested a sum in a bank certificate of deposit

let the amount invested in bank certificate = y

profit from the investment in the bank = 0.04y

second investment amount = 15000 - y

profit of investment = 0.07 ( 15000 - y)

sum of the two profit = 0.04y + 0.07 (15000 - y) = total profit = $ 900

0.04y + 0.07 (15000 - y) = 900

open the bracket and rearrange the equation

0.04y + 1050 - 0.07y = 900

0.04y - 0.07y = 900 - 1050

-0.03y = -150

divide both side by -0.03

y = -150 / -0.03 = $ 5000

The amount of money invest at 4% is $5000

The amount of money invested at 7% = 15000 - 5000 = $10000

The amount of money invested in CD account = $ 5000

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2 years ago

If interest rates in general were to fall, 1. the prices of existing bonds would rise 2. the prices of existing bonds would fall

IRINA_888 [86]

Answer:

1. the prices of existing bonds would rise

Explanation:

General Interest rates and price of a bond are inversely related. The market interest rate also reflects an investors expected rate of return also referred to as yield to maturity i.e YTM.

Mathematically, price of a bond is the present value of it's future stream of coupon payments as well as principal repayments discounted at investors expected rate of return i.e YTM.

So, when market interest rates fall in general, this would lead to a rise in the price of bonds as general interest rates represent yield to maturity.

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3 years ago

The step in which a salesperson meets the customer for the first time is the __________ step of the creative selling process.

frosja888 [35]

The step in which a salesperson meets the customer for the first time is the <u>approach step</u> of the creative selling process.

<h3>Who is a saleperson?</h3>

A salesperson can be defined as the person whose sole reponsibilities is to market and sell a company product to potentials customers or buyers.

When a sales person meet a customer for the first time, the sales person need to first approach the customers before marketing a product to the customer.

Therefore the step in which a salesperson meets the customer for the first time is the <u>approach step.</u>

Learn more about salesperson here:brainly.com/question/25586322

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2 years ago

The financial statements of the larson company report net sales of $1,000,000 and accounts receivable of $80,000 and $60,000 at

stepan [7]

<span>To calculate the average collection period: the average accounts receivable balance divided by average credit sales per day. With $1,000,000 per year, that is $2739.73 per day. The average accounts receivable is ($80,000 + $60,000) / 2 = $70,000 $70,000 / $2,739.73 = 25.6 days</span>

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3 years ago