An emergency fund is an account that is used to set aside funds that will be needed in the event of a personal financial dilemma. The size of one emergency fund depends on one's income, dependants and lifestyle. It is recommended that one put aside at least three months worth of expenses.In the question given above, the monthly expenses is $2000.00, so the person has to put away at least $2000 * 3 months, which is equal to $6000.00.
Answer:
Sheridan Company journal entries:
June 10
- Dr Merchandise inventory 7,700
- Cr Accounts payable 7,700
June 11
- Dr Merchandise inventory 430
- Cr Cash 430
June 12
- Dr Accounts payable 800
- Cr Merchandise inventory 800
June 19
- Dr Accounts payable 6,900
- Cr Cash 6,693
- Cr Merchandise inventory 207
Answer:
In simple words, Asset transformation can be understood as the process of turning small denominational, instantly available, and generally riskless deposit accounts into lenders moderately risky, high denomination assets that are returned according to a specified schedule–from obligations (deposits) with distinct traits.
The given statement is false.
A subfield of economics called macroeconomics focuses on aggregate units. It concentrates on factors such as total supply, demand, investment, national income, etc. Macroeconomics examines the overall level of prices.
The units of the individuals are the focus of microeconomics. It focuses on the behavior of various economic agents such as individual customers, companies, or specific markets. Microeconomics examines the level of individual prices.
In order to study the behavior of entire economies, macroeconomics looks at aggregate indicators like the general level of prices, the unemployment rate, and the production of the whole economy. Microeconomics is the study of market behavior.
Hence, the above statement is false.
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