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adelina 88 [10]
3 years ago
7

The legacy "high-3" retirement system for the uniformed services requires service members to serve _____ years of active duty, o

r qualifying years of service for the reserve component, in order to qualify to receive the defined-benefit retired pay.
Business
1 answer:
Free_Kalibri [48]3 years ago
5 0
<span>The legacy "high-3" retirement system for the uniformed services requires service members to serve 20 years of active duty.
The high-3 require its receivers give 'defined contribution', which include that they must complete various type of services for at least 20 years.</span>
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What is the primary way in which insurance allows you to be covered for a loss, even if you haven't had it for very long?
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C. You share the risk with others.

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3 years ago
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Felipe's grandparents have given him $1,500.00 to invest while he is in college to begin his retirement fund. He will earn 2.3%
deff fn [24]

Answer:

$1,642.83

Explanation:

The amount after four years can be calculated using the formula below

A = P(1 +r)^n

where A= amount

P = Principal amount $1500

r= interest 2.3% or 0.023

n = time in year; 4

A = $1500(1 + 0.023)^4

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8 0
2 years ago
A dividend can be defined as
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Answer:

a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves).

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2 years ago
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Samantha goes to the grocery store to make her monthly purchase of ginger ale. As she enters the soft drink section, she notices
viva [34]

Answer:

The correct answer is A that is substitution bias

Explanation:

Substitution bias is the bias in the economic index numbers, if that do not incorporate the data on the consumer expenditures then the customer will switch from relatively more expensive products or items to the cheaper ones due to the change in the price.

As, the price of that produce has increased so, the customer shifted or preferred to buy the product which is cheaper in price. Therefore, it is referred to as the Substitution bias.

5 0
2 years ago
Rayya Co. purchases a machine for $184,800 on January 1, 2019. Straight-line depreciation is taken each year for four years assu
gizmo_the_mogwai [7]

Answer:

Refer explanation

Explanation:

A. Straight-line depreciation is whereby the same amount is depreciated every year throughout the life of the asset. It is calculated as:

(Cost of asset - Salvage Value) / Estimated total number of life years of asset.

The depreciation per year for the machine would be: ($184800 - 0) / 8

= $23,100

Depreciation for partial year’s depreciation as at 01 July 2023 = $23100 / 2 = $11,550

Debit : Depreciation account : $11550

Credit : Accumulated depreciation account : $11550

B. In order to account for sale, it should be identified whether it is a profit on sale or loss on sale. This is calculated by comparing the net book value of the asset at the time of sale, and it’s sale price. If the sale price is higher than the NBV, it is a profit on sale. If the sale price is lower than the NBV, it is a loss on sale. Net book value is calculated as cost of asset - accumulated depreciation.

If the asset was purchased on January 01 2019 and sold on July 01 2023, it was used for 4.5 years. Hence, the accumulated depreciation of the asset is $23100 x 4.5 = $103950.

NBV = $184800 - $103950 = $80,850

(B1) Machine is sold for $92,400

Profit on sale : $92400 - $80850 = $11550

Debit : Cash : $92400

Debit : Accumulated depreciation : $103950

Credit : Profit on sale of asset : $11550

Credit : Machinery Account : $184800

(B2) Machine is sold for $77616

Loss on sale : $77616 - $80850 = $3234

Debit : Cash : $77616

Debit : Loss on sale of asset : $3234

Debit : Accumulated depreciation :$103950

Credit : Machinery Account : $184800

6 0
3 years ago
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