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Ostrovityanka [42]
3 years ago
11

Which of the following is true concerning temporary and permanent accounts?A. Cash is a temporary accountB. Permanent accounts r

epresent activity over the entire life of the companyC. Permanent accounts must be closed at the end of every reporting periodD. Temporary accounts represent activity over the previous three years
Business
1 answer:
Agata [3.3K]3 years ago
3 0

Answer:

  • <em>Option B. Permanent accounts represent activity over the entire life of the company is</em><u><em> TRUE,</em></u>

Explanation:

Briefly, <em>temporaty accounts</em> are closed at the end of the year, their balance is zeroed every year by transferring the balance to another account.

Then, <em>option D. Temporary accounts represent activity over the previous three years</em> is <u>FALSE</u>.

In contrast, the balance of permanent accounts are carried forward to the following year.

Then, <em>option B. Permanent accounts represent activity over the entire life of the company</em> is <u>TRUE</u>, and <em>option C. Permanent accounts must be closed at the end of every reporting period</em> is <u>FALSE.</u>

Most of the balance sheet accounts are permanent accounts. Some typical examples are Cash, Receivables, Inventory, Equipment, Payables, Capital,  Retained Earnings.

Then, the option<em> A. Cash is a temporary account</em>, is <u>FALSE</u>.

The income statement accounts are temporary accounts: Revenues, Expenses, Gains, Losses.

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A corporate bond has 22 years to maturity, a face value of $1,000, a coupon rate of 4.6% and pays interest semiannually. The ann
julia-pushkina [17]

Answer:

a. The answer is: $1,008.40

b. The bond's YTM is 3.343%

c. The current yield is 3.826%

Explanation:

a. Bond price formula: ∑(C* / (1+YTM)n )

The price of the bond Intro A with i=1,2...10 is:

∑($1,000 x 3.4% / (1 + 3.3%)i ) = $1,008.40

b.  The price of the corporate bond which has 22 years to maturity is: $1,202.20

Given that the bond is trading at par value, the bond's YTM is:

[Annual Interest Payment + ((Face Value – Current Price) / (Years to Maturity))] / ( ( Face Value + Current Price ) / 2 )

= [$1,000 x 4.6% + (($1,000 - $1,202.20) /  22)]  / (($1,000 + $1,202.20) /2)

= 3.343%

c. The bond's current yield is:

Annual Interest Payment / Current Price = $46 / $1,202.2 = 3.826%

5 0
3 years ago
XYZ Development, Inc. leases commercial space to businesses. Most of the leases are long-term, from five to fifteen years in len
prisoha [69]

Answer:

B. Escalator Clause

Explanation:

An escalation clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. An important example of this is a contract that adjusts for inflation.

4 0
3 years ago
Which technology will a business use to identify unauthorized access to intranet sites or files by its employees?
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your answer is computer forensics

4 0
3 years ago
Read 2 more answers
Alfred is saving up money for a down payment on a townhouse. He currently has $5016$ 5016, but knows he can get a loan at a lowe
VikaD [51]

Answer:

It will take Alfred to accumulate the $5994 annually 4.1367 and monthly 4.0557

Explanation:

In order to calculate how long will it take Alfred to accumulate the $5994 we would have to use the following formula:

A=P(1+r/n)∧n*t

P=$5,016

A=$5994

r=4.4%

n=1 annually

n=12 monthly

Therefore, t annually would be as follows:

5,994=$5,016(1+(4.4%/100)/1)∧1*t

t=4.1367

Therefore, t monthly would be as follows:

5,994=$5,016(1+(4.4%/100)/12)∧12*t

t=4.0557

It will take Alfred to accumulate the $5994 annually 4.1367 and monthly 4.0557

7 0
3 years ago
A basic CRM premise is that customers form relationships with companies as opposed to companies conducting individual transactio
Romashka-Z-Leto [24]

Answer:

True.

Explanation:

In Business management, customer relationship management (CRM) can be defined as the basic combination of strategies, technologies, techniques and practices for the management and evaluation of customer interactions and informations with the company's past, current and potential customers, for the purpose of increasing sales, growth and improving customer satisfaction.

A basic customer relationship management (CRM) premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers. In order to build a mutual and strong customer relationships, it is very important and essential to create a communication medium. Companies shouldn't just engage in a one-sided business transactions with their customers, it is important and essential that they try to find out what the wants or basic needs of their customers is. Consequently, they would then be able to proffer a solution or inform them that they have a solution to meet the customer's wants or requirements.

<em>Hence, in order to build a seemingly and effective customer relationship management, companies should ensure they employ competent and professional managers who has a good listening ear and pays so much attention to details. </em>

4 0
3 years ago
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