Options: True or False
Answer: True
Explanation: Financial statements is a written record of the inflow and outflow of funds in an organisation, it gives a description and clearer picture or view of how the financial activities taking place in the Organisation has been managed,it helps the decision makers to see the true picture and state of affairs of the Organisation.
EXAMINING FINANCIAL STATEMENTS HELPS TO REVEAL MORE DETAILED INFORMATION THAT CAN NOT BE OBTAINED BY JUST LOOKING AT INDIVIDUAL ITEMS IN A STATEMENT.
Answer: The correct answer is "B. Letter of credit".
Explanation: A letter of credit is an agreement of the person who issues the letter to pay a sum of money on receipt an invoice and other documents.
Is a payment mechanism used in international trade.
Answer:
The answer is 50.000 dollars
Explanation:
When a corporation completely liquidates, the corporation wil recognize a gain or loss as if the property were sold at fair market value.
Amount realizes as if sold $150,000
Less: Adjusted basis $ 100,000.
Equals: $50,000, which is the recognized capital gain.
Answer:
$641,455.26
Explanation:
Calculation to determine the value of your retirement plan after 40 years
First step is to determine FV Using financial calculator
N = 40*12 = 480
I = 8%/12 = .6667
PV = 0,
PMT = $150
CPT FV =$523,651.17
N = 20*12 = 240
I = 8%/12 = .6667
PV = 0
PMT = $200 ($350 - $150)
CPT FV =$117,804.08
Now let determine the value of your retirement plan after 40 years
Sum of FV =$523,651.17+$117,804.08
Sum of FV =$641,455.26
Therefore the value of your retirement plan after 40 years will be $641,455.26
