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2 years ago

How much money do a bank make daily

1 answer:

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On savings accounts, banks make money by paying depositors virtually no interest. Most major banks pay an interest rate of only 0.01% on their savings accounts. And then they use the money customers deposit to make loans at much higher rates. So, we are basically giving interest-free loans to banks. and by the end of the year they will have over a million dollars.

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Inventory costing methods place primary reliance on assumptions about the flow of:a. goodsb. costsc. resale pricesd. values

Mrac [35]

Answer: B costs

Explanation:

In business and accounting, cost is the monetary value that has been spent by a company in order to produce something.

Cost accounting aids in decision-making processes by allowing a company to calculate, evaluate, and monitor its costs.

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2 years ago

Read 2 more answers

Which of the following is considered a constructive delivery of a gift?

Hoochie [10]

Answer:

A) giving the key to a safe-deposit box where the gift is kept

Explanation:

A Constructive delivery possession is that acquisition when here a symbolic transfer of property. The constructive distribution of the possession is basically a right that the property is not actually managed
But the donor has done something to convey the possession, but the property is of such a nature that physical possession is then not possible, the creative possession of the property is sufficient to carry out the act of gift.

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2 years ago

Should a firm shut down if its weekly revenue is $1 comma 000, its variable cost is $600, and its fixed cost is $800, of w

kifflom [539]

Answer: The correct answer is "C. produce because revenue of $1 comma 000 is greater than fixed costs.".

Explanation: The firm should produce because the revenue of 1000 is enough to cover the fixed costs and part of the variables (1000 - 800 - 600 = (-400)) so that the loss is less than if it stopped producing despite the avoidable costs (800 - 350 = 450) since if it stopped producing it would have a loss of $ 450 and producing it would have a loss of $ 400.

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3 years ago

The following information pertains to Crane Video Company:

Mashutka [201]

Answer:

Prepare Bank Reconciliation Statement

Balance at Bank as per Cash Book - Up to date $7,972

Less Lodgements not yet credited : ($1,300)

Add Unpresented Cheques $591

Balance as per Bank Statement $7,263

Adjusting Entries

Bank service charge $28 (debit)

Cash $28 (credit)

Cash $700 (debit)

Note - Receivable Crane $700 (credit)

Cash $36 (debit)

Interest Income $36 (credit)

Service Fee $20 (debit)

Cash $20 (credit)

Explanation:

First Update the Cash Book as follows:

<u>Debit :</u>

Cash balance $7,284

Crane $700

Interest $36

Totals $8,020

<u>Credit:</u>

Bank service charge $28

Crane : fee $20

Balance - Up to date $7,972

Totals $8,020

Then, Prepare Bank Reconciliation Statement

Balance at Bank as per Cash Book - Up to date $7,972

Less Lodgements not yet credited : ($1,300)

Add Unpresented Cheques $591

Balance as per Bank Statement $7,263

Adjusting Entries

Bank service charge $28 (debit)

Cash $28 (credit)

Cash $700 (debit)

Note - Receivable Crane $700 (credit)

Cash $36 (debit)

Interest Income $36 (credit)

Service Fee $20 (debit)

Cash $20 (credit)

7 0

2 years ago

Two fatal flaws can render a business model untenable from the beginning. These are:

zavuch27 [327]

Answer:

The correct answer is the option A: failure to complete a business plan and failure to get funding.

Explanation:

To begin with, if an entrepreneur failures to complete a business plan and to get funding then the most probable thing to happen is that his business will be untenable from the beginning due to the fact that if the person do not possesses money and a plan to put his ideas in action he will never achieve his primary goals, that is, obtaining profits at long term. Therefore that if there is no business plan in which the company must focus and there is no money to carry out that strategy then the business model is doomed.

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2 years ago