Answer:
What is the probability that the next student to purchase a meal plan will be assigned to the Commons?a. 0.33
Explanation:
P(A) = (No. of ways A can occur)/(Total no. of possible outcomes)
P=1/3
P=0,333
Answer:
The amount worth $6,000 will be debited to the account in Year 2
Explanation:
When the uncollectible accounts are written off, then the debit is created to the allowance and the credit to the accounts receivable. The starting balance in the allowance account is $90,000 and the ending balance is $100,000 and the expense of bad debt is $16,000
The write off is computed as:
Write off = Beginning balance + Bad debt expense - Ending balance
= $90,000 + $16,000 - $100,000
= $106,000 - $100,000
= $6,000
Therefore, the amount of $6,000 is to be write off in Year 2
Answer:
<em>False</em>
Explanation:
<em>Subprime lending means lending to borrowers and charging interest that is </em><u><em>above</em></u><em> the current prime interest rate. </em>
The <em>current prime interest</em> refers to the rate offered to the best credit rated customers based on their credit history. This rate is lower as it is meant to be an attraction for the customers who are good credit payers and takers.
The <em>sub-prime lending</em> refers to giving loans at a rate higher than current prime interest rate to the borrowers who are lower on credit rating. This lending takes on higher risk and hence thereby charges higher interest from the borrowers.
Answer: A. Managers scan their firm's environment to reduce uncertainty.
Explanation: In the context of the external environment of a firm, managers scan their firm's environment to reduce uncertainty. In doing so, they stay up to date on important factors in their industry which helps to reduce uncertainty. Environmental scanning simply involves searching for cues, important happenings, events, issues etc. that might affect an organization either positively or negatively.
Answer: B - $7,150
Explanation: Standard taxation is an option by IRS to reduce an inidvidual taxable income. this is subject to an individuals filling status.
Phil who is aged 20, single and who can claim a dependent on his parents tax filling return. As of 2019, his standard tax deduction is limited to his earned income plus $350.
According to the above question, Phil earns $7,000 as wages plus $150 in interest income.
From the above information, Phil has a standard tax of $7,150.
