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3 years ago

"Under what circumstances might a broker open a separate escrow account for each beneficiary of a transaction?"

Business

1 answer:

hodyreva [135]3 years ago

6 0

Answer and Explanation:

If the broker shall have an "ownership interest" in a company, joint venture or alliance, and shall receive payments for the selling or lease of such land of these institutions.

Then the broker may choose to set up a separate escrow account for each "major accounting company" controlled or otherwise operated to comply with this and other regulations.

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In October 2010, the amount of money held by individuals and companies was $893.4 billion; checkable deposits owned by the same

Debora [2.8K]

Answer:

The M2 for October 2010 is $4.4145 trillion

Explanation:

In this question, we are asked to calculate the value of M2 for the month of October 2010. We use a mathematical approach for this;

Mathematically:

M2 = M1 + Savings deposits + Money market funds + Certificates of deposit + other time deposit

We identify the parameters in the question as follows:

Savings deposit = $989.4 billion

Money Market funds = $1.9423 trillion

Certificates of deposit = $345.6 billion

Other time deposit = $243.8 billion

M1 = $893.4 billion

We thus calculate M2 as = $989.4 billion + $1.9423 trillion + $345.6 billion + $243.8 billion + $893.4 billion = $4.4145 trillion

6 0

4 years ago

Read 2 more answers

Madeline quits her job, at which she was earning $20,000 per year. She then takes $50,000 out of savings, on which she was earni

Alenkinab [10]

Answer:

A. Madeline's accounting cost is $75,000

B. Madeline's economic cost is $100,000

C. Madeline's accounting profit is $75,000

D. Madeline's economic profit is is $50,000

Explanation:

A. To calculate Madeline's accounting cost we would have to make the following calculation:

Madeline's accounting cost=cost of supplies+rent+labour costs

Madeline's accounting cost=$50,000+$10,000+$15,000

Madeline's accounting cost=$75,000

B. To calculate Madeline's economic cost we would have to make the following calculation:

Madeline's economic cost=explicit cost+implicit cost

=$75,000+opportunity cost

=$75,000+0.10*$50,000+earning job

=$75,000+$5,000+$20,000

=$100,000

C. To calculate Madeline's accounting profit we would have to make the following calculation:

Madeline's accounting profit=revenue-accounting cost

=$150,000-$75,000

=$75,000

D. To calculate Madeline's economic profit we would have to make the following calculation:

Madeline's economic profit=revenue-economic profits

=$150,000-$100,000

=$50,000

6 0

4 years ago

Presented below are four statements which you are to identify as true or false.

vagabundo [1.1K]

Answer:

1. True.

2. False.

3. True.

4. False.

Explanation:

GAAP is an acronym for Generally Accepted Accounting Principles. It comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).

GAAP includes each of the following pronouncements:

Statements of Financial Accounting Standards.

Accounting Research Bulletins.

Accounting Principles Board Opinions.

For external reporting purposes, US Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.

When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).

Also, the financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors.

Additionally, Securities and Exchange Commission (SEC) reviews registration statements of bond issuers, investment advisers etc, to ensure they comply with current laws and regulations.

1. True: GAAP is the term used to indicate the whole body of FASB authoritative literature.

2. False: Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. All companies are required to follow the disclosure requirements at all times.

3. True: The primary governmental body that has influence over the FASB is the SEC.

4. False: The FASB has a government mandate and therefore does not have to follow due process in issuing a standard. FASB has to follow due process all the time in issuing standards.

6 0

3 years ago

Which document determines the number of shares in a company? a stock prospectus an annual bill of rights a corporate charter an

Nezavi [6.7K]

Answer: Corporate charter

Explanation:

The corporate charter is also referred to as the articles of incorporation. It is a document that contains the major components that make up a company, like the objectives of the company, the structure of the company, the number of shares the company has for sale and the planned operations of the company.

When a corporate charter is approved by the state, then the company will become a legal corporation. The corporate charter also contains the names of the people that are involved in its formation.

5 0

4 years ago

Read 2 more answers

In Maslow's hierarchy of needs, the desire for love and acceptance would fall into the category of:

Gre4nikov [31]

Answer:

D. self-actualization need

3 0

4 years ago