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4 years ago

For asians, living arrangements are mostly a function of:

1 answer:

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Asians, like most other people of the world concoct living arrangements based on propinquity, preferring to live near, sometimes within walking distance, to city centers, work, and food. Oftentimes, they will opt to live with family members, sometimes multiple generations in one home. This is due to strong family values instilled by society. However, one may move closer to a job in order to save money on commutes.

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A company set up a petty cash fund with $800. The disbursements are as follows:

Aleonysh [2.5K]

Answer: 1. B. Petty Cash

2. D. Petty Cash

3. D. Debit petty cash and credit cash

Explanation:

1. When creating the Petty Cash fund, Cash is credited because money is being removed from it. It is then put into the Petty Cash account hence a debit.

2. When taking money from Petty Cash, it is an asset and so is credited to reflect the outflow.

3. Similar to the transaction in question 1. You are taking money from cash account to.put in Petty Cash so the right procedure is to debit Petty Cash and credit Cash.

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3 years ago

What is the best reason for homebuyers to create a budget before taking out a mortgage?

Pavlova-9 [17]

Answer:

B. planning on selling their homes before the term of the loan ends.

Explanation:

just took the test

4 0

3 years ago

Would you rather be a juvenile prosecutor or defense attorney? Explain your decision.

balandron [24]

Answer:

a defense attorney instead

Explanation:

From a financial standpoint, a defense attorney would more likely make more money than a juvenile prosecutor because a defense attorney could charge up more for certain cases than been a juvenile prosecutor who wants to ensure someone is convicted.

Also, in terms of purpose, I do feel a defense lawyer could make more impact socially by defending his or her clients.

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3 years ago

Sharon transfers to Russ a life insurance policy with a cash surrender value of $30,000 and a face value of $100,000 in exchange

Vanyuwa [196]

Answer: $56,000

Explanation:

When a life insurance policy is transferred the taxable amount at death is the value of proceeds that the policy gives less the Cash surrender value and the premiums that have already been paid by the formula;

Taxable Proceeds = Total Proceeds received - (Cash Surrender Value + Premiums paid)

Taxable Proceeds = 100,000 - (30,000 + 14,000)

Taxable Proceeds = $56,000

4 0

3 years ago

Andy's business is not able to pay its debts, and the prospects for its finances to improve are slim. Andy decides not to contin

klio [65]

Answer:

The answer is: She should file for Chapter 7 Bankruptcy; The discharge of debts

Explanation:

Under Chapter 7, you must first prove that your income is insufficient to allow you to pay at least a portion of your debts. There is a mathematical form for making the calculation. If you have enough income, you will need to file under Chapter 13 instead.

Under Chapter 7 you either pay your debts or give up your property for secured debts. You surrender any nonexempt property (e.g. a second house not used as primary residency, investments, artwork, jewelry, etc.) in order to pay off as much of your debt as possible.

You are able to keep all your exempt property and you are no longer in obligation to repay the remaining debt.

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3 years ago