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dem82 [27]
1 year ago
10

When selecting a savings account, you should consider the interest threshold. O True O False

Business
1 answer:
ElenaW [278]1 year ago
8 0

True. You should consider the interest threshold while selecting a savings account.

Interest thresholds are the maximum amount that you can keep in your savings account, also referred to as the threshold limit. This means that it is important to choose an account that holds the threshold at an amount that is convenient and suitable to your needs.

The other criteria that need to be taken into account while choosing a savings account are:

  1. fees and penalties
  2. lowest balance
  3. interest rates and interest caps
  4. fluctuating interest rates
  5. (APY) annual percentage yield
  6. (APR)  

Simple financial transactions are one benefit of a savings account, as well as interest payments, ATM and debit card services, chequebook and passbook services, net banking and mobile banking, and a minimum average balance.

Learn more about a savings account here: brainly.com/question/4089097

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In 2017, Blake purchased a new home. In addition to the purchase price of $200,000, he paid $700 in legal fees and $2,000 in rec
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Answer:

$207,700

Explanation:

Blake's basis in his home in 2017 = purchase price + legal and administrative fees = $200,000 + ($700 + $2,000) = $202,700

Since the deck that Blake added to his home is considered an improvement that is permanent and increases the home's value, it will also increase the home's basis = $202,700 + $5,000 = $207,700

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On July 1 the Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was increased for t
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Answer:

Increase Rent Expense, $4,000; decrease Prepaid Rent, $4,000.

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Financial statements are prepared on July 31, so we will adjust the July rent in the adjusting entry.

We will debit the rent expense by $4,000 and credit the prepaid rent which is an asset to decrease it by an amount of $4,000.

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