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3 years ago

A good financial plan does not include an insurance plan. true false

Business

2 answers:

Yuliya22 [10]3 years ago

7 0

The answer is false a good financial plan requires an insurance plan

gayaneshka [121]3 years ago

5 0

Answer:

A good financial plan includes an insurance plan therefore the answer is FALSE ( A )

Explanation:

A financial plan is a complete / comprehensive written out plan about the long term financial goal, security of funds and investment of funds of any individual or group of individuals or firm and the laid out procedure/strategies of achieving it . and this must include an insurance plan as part of the security of funds and properties acquired.

An Insurance plan is a component of a financial plan that helps to cover up an amount of risk or accidents that might happen/occur due to unforeseen circumstances to your health or finance

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Information technology has been used to improve both internaland external access and sharing of information. Three main kinds of

Mashcka [7]

Answer:

1. Executive Information System (EIS).

2. Corporate Portal.

3. Intranet.

Explanation:

Information technology (IT) can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.

An information technology (IT) interacts with its environment by receiving data in its raw forms and information in a usable format.

Information technology (IT) has significantly helped to improve both internal and external access and sharing of information between two or more business firms and individuals. Basically, there are three (3) main kinds of information technology (IT) which allow informations to be accessed and shared internally among employees; executive information systems (EIS), intranets, and portals.

1. Executive Information System (EIS): it assist managers working in an organization to monitor and analyze organizational performance. An Executive information system is also referred to as an Executive support system and it can be defined as a management support system that enhances and supports all of the senior executive information and decision-making process.

2. Corporate Portal: it's a hybrid system that uses a web address (uniform resource locator-URL) to give employees access to customized information and specialized transactions with respect to an organization.

3. Intranet: it's an internal company network which is private and provides employees with easy access to information.

8 0

2 years ago

On January 1, a company purchased a five-year insurance policy for $3,300 with coverage starting immediately. If the purchase wa

marissa [1.9K]

Answer:

a. Debit Insurance Expense. $660, credit Prepaid Insurance, $660.

Explanation:

The adjusting entry is shown below:

Insurance expense Dr $660 ($3,300 ÷ 5 years)

To Prepaid insurance

(Being the insurance expense is recorded)

here we debited the insurance expense as it increased the expense and credited the prepaid insurance as it decreased the assets

Therefore the option a is correct

7 0

3 years ago

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. What is another way to

Degger [83]

Answer: There has been a drop in demand.

Explanation:

The strength and sustainability of a business is the demand in the market, it would be painful and a loss making so many productions and there is little or nothing for demand at the moment. So the target is way to make sure there is a demand on the long run which will match up the production.

3 0

3 years ago

What role do group dyanmics play in financial decisions? use examples of personal and buisness financial decisions.

yan [13]

Answer:

Step 1: Determine Your Current Financial Situation

In this first step of the financial planning process, you will determine your current financial situation with regard to income, savings, living expenses, and debts. Preparing a list of current asset and debt balances and amounts spent for various items gives you a foundation for financial planning activities

Step 2: Develop Financial Goals

You should periodically analyze your financial values and goals. This involves identifying how you feel about money and why you feel that way. The purpose of this analysis is to differentiate your needs from your wants. Specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an extensive savings and investment program for your future financial security.

Step 3: Identify Alternative Courses of Action

Developing alternatives is crucial for making good decisions. Although many factors will influence the available alternatives, possible courses of action usually fall into these categories: Continue the same course of action. Expand the current situation. change the current situation. Take a new course of action. Not all of these categories will apply to every decision situation; however, they do represent possible courses of action. Creativity in decision making is vital to effective choices. Considering all of the possible alternatives will help you make more effective and satisfying decisions.

Step 4: Evaluate Alternatives

You need to evaluate possible courses of action, taking into consideration your life situation, personal values, and current economic conditions. Consequences of Choices. Every decision closes off alternatives. For example, a decision to invest in stock may mean you cannot take a vacation. A decision to go to school full time may mean you cannot work full time. Opportunity cost is what you give up by making a choice. This cost, commonly referred to as the trade-off of a decision, cannot always be measured in dollars. Decision making will be an ongoing part of your personal and financial situation. Thus, you will need to consider the lost opportunities that will result from your decisions. Evaluating Risk Uncertainty is a part of every decision. Selecting a college major and choosing a career field involve risk. What if you don’t like working in this field or cannot obtain employment in it? Other decisions involve a very low degree of risk, such as putting money in a savings account or purchasing items that cost only a few dollars. Your chances of losing something of great value are low in these situations.In many financial decisions, identifying and evaluating risk is difficult. The best way to consider risk is to gather information based on your experience and the experiences of others and to use financial planning information sources. Financial Planning Information Sources Relevant information is required at each stage of the decision-making process. Changing personal, social, and economic conditions will require that you continually supplement and update your knowledge.

Step 5: Create and Implement a Financial Action Plan

In this step of the financial planning process, you develop an action plan. This requires choosing ways to achieve your goals. As you achieve your immediate or short-term goals, the goals next in priority will come into focus. To implement your financial action plan, you may need assistance from others. For example, you may use the services of an insurance agent to purchase property insurance or the services of an investment broker to purchase stocks, bonds, or mutual funds.

Step 6: Reevaluate and Revise Your Plan

Financial planning is a dynamic process that does not end when you take a particular action. You need to regularly assess your financial decisions. Changing personal, social, and economic factors may require more frequent assessments. When life events affect your financial needs, this financial planning process will provide a vehicle for adapting to those changes. Regularly reviewing this decision-making process will help you make priority adjustments that will bring your financial goals and activities in line with your current life situation

6 0

3 years ago

Coolibah Holdings is expected to pay dividends of $ 1.10 every six months for the next three years. If the current price of Cool

Viktor [21]

Answer:

$25.15

Explanation:

The price the stock would be sold at the end of the three-year holding period can be computed using excel FV formula stated below:

=fv(rate,nper,pmt,-pv)

rate is the semiannual cost of capital i.e 14%/2=7%

nper is the number of dividend payments over three-year period which is 6

pmt is the amount of semiannual dividend payment

pv is the current stock price

=fv(7%,6,1.1,-22)=$25.15

6 0

3 years ago