Answer:
The answer is: E) Only A and C of the above
Explanation:
Financial intermediaries are institutions that offer a service for individuals or institutions who want to save or borrow money. They help to promote a more efficient economy.
We take some things for granted, but try to imagine if no banks existed.
For instance, you need to borrow $200,000 to buy a new house, but none of your friends or family can lend to you. If banks (or other types of financial institutions) didn´t exist, you would have to search your neighborhood or workplace for someone willing to lend you the money. It is possible for you to find a private lender, but it would be time consuming and very inefficient. Instead the easiest way is to go to a bank and ask for a loan.
The same happens if you have saved some extra money. If banks didn´t exist you would have to hide it in your house or other places, or lend it to someone you knew that needed that money and is willing to pay it back with interest. Banks make saving money much more easy and safer.
Answer:
Retained earnings refers to:
D. The net losses and dividends declared since its inception of a company's cumulative net profit.
Explanation:
Retained earnings are referred as :
- The overall earning the company have made till the present date.
- This earning excludes the dividend money and the money of the investors distributed.
- Whenever new records are made for the company this dividend money is readjusted.
- This leftover money has an impact on the account related to the expense and revenue.
- The retained earnings are built of the total income amount which has been given by a business after paying off the dividend to the shareholders.
So, here correct option is
D. The net losses and dividends declared since its inception of a company's cumulative net profit.
A long term goal is something that a person has that requires planning and most of the time, involves their career or what they want to do in the future, Something that isn't going to come to an end anytime soon. So, the answer is 4.
Answer:
B. Cost of goods sold will be too low by $5,000.
Explanation:
Given that
Ending inventory overstated in the current year by $5,000
And, the net income is incorrectly reported $100,000
So, due to this error
The cost of goods sold is understated by $5,000
And, the net income is overstated by $5,000
Since the cost of goods sold is understated by $5,000 so it would be too low due to which the net income overstated by $5,000
Answer:
Main route:
Smelting --> Rolling --> Converting --> Sheared Sheet
Secondary route -->
Smelting --> Rolling --> rolled sheet
1) Smelting trasnferred materials into Rolling
2) It will be part of that department work in process inventory
"WIP SConverting debit then factorty overhead credit"
Later it will be transferred out as a complete process therefore,
Finished good Inventory - Shared sheet
3) the Smelting department transfer the entire of his output into Rolling department
4) the finished good will become cost of good solg once they are sold.
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Explanation:
We have to read he description of how the processing system works and check to whichdeparmtent are the goods being transferred or sold.
