Answer:
Stocks can have negative growth rates.
Explanation:
The growth rate of stocks can be negative zero and positive. Hence, it is not necessary that the growth rate should be constant. Hence, the correct option in the following statement is "<u>Stocks can have negative growth rates"</u>
Answer:
$70,050
Explanation:
The computation of the acquisition cost of the equipment is shown below:
= Cash price + sales tax + insurance during transit + installation and testing
= $64,600 + $4,000 + $610 + $840
= $70,050
We simply added the all given cost as it is included in the acquisition cost and the same is to be considered
Hence, the acquisition cost is $70,050
Answer:
Increase the allowance for doubtful accounts.
Explanation:
It would increase the allowance for doubtful accounts because, if you determine the necessary journal entries for reestablishment and to collect the account receivables, what we get is depicted below:
Reestablishment entry:
Account receivables = xx
Doubtful accounts allowance = xx
On the other hand, we get the record collection entry:
Record Collection Entry:
Cash = xx
Accounts receivable = xx
From the above, the net effect is simply an increase in current asset account; CASH, and a corresponding increase in the allowance for doubtful accounts.
There are different types of banks according to their classification. There are seven major type of banks that exist including retail, corporate, commercial, exchange, industry, cooperative and central.
Explanation:
1. A bank that specializes in retail or consumer banking in a local market.
Commercial Bank
This type of bank is based on shoort term credit and ease of withdrawal.
II. A bank that engages in a complete array of wholesale commercial banking activities and usually also provides retail banking services.
Industrial banks
These banks have large capitals that they invest in commercial activities.
III. A bank that is located in a financial center and relies on nondeposit or borrowed sources of funds for a significant portion of its liabilities.
Central Bank
these banks are often regulated and controlled by the government of the country.
