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AnnyKZ [126]
3 years ago
7

George Jefferson established a trust fund that will provide $170,500 per year in scholarships. The trust fund earns an annual re

turn of 2.1 percent. How much money did Mr. Jefferson contribute to the fund assuming that only income is distributed?
Business
1 answer:
Dimas [21]3 years ago
4 0

Answer:

$8,119,048

Explanation:

Given that,

Amount of scholarships = $170,500 per year

Trust fund earns an annual rate of return = 2.1 percent

Let x be the amount contribute to the fund and assuming that only income is distributed,

2.1% of x = Amount of scholarships

0.021x =  $170,500

x = $170,500 ÷ 0.021

  = $8,119,048

Therefore, the amount of money that is contributed by the George Jefferson to the trust is $8,119,048.

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Choose the correct statement about audits of corporations:
Furkat [3]

Answer:A. Public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP.

Explanation:GAAP(Generally accepted accounting principles) is a body saddled with the response of ensuring that financial statements are prepared based on certain principles which includes the following.

OBJECTIVITY, MATERIALITY, CONSISTENCY AND PRUDENCE. All public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP which regulates Their Financial statement and reports.

8 0
3 years ago
Cora will be a bridesmaid next summer, and has purchased her dress online. The next time she turned on her computer, Cora was su
Serjik [45]

Answer: direct marketing

   

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     In the given case, Cora was offered special offers in the market based upon her previous purchase online. Hence we can conclude that the correct answer is direct marketing.

8 0
3 years ago
Jacob has been hinting that he loves to bowl and would like to join the company bowling team in order to get to know his new cow
Charra [1.4K]

Option D

He is probably using Indirect questions information seeking tactics

<u>Explanation:</u>

Indirect questions are a more formal process to demand erudition or perform requests. We regularly practice them when requesting something of immigrants or people we do not know well, including coworkers. Hinting is an indirect tactic.

It often transpires with questions about job execution. They are face-saving tactics.  Indirect questions are a way of being respectful.  We also practice them when requesting support from friends or when we desire to evade sounding demanding. But, some indirect questions do not exist wh-question words.

8 0
3 years ago
Peyton’s Palace has net income of $15 million on sales revenue of $130 million. Total assets were $96 million at the beginning o
Lelechka [254]

Answer:

See below

Explanation:

1. Returns on assets

= Annual net income ÷ Average total assets

Average total assets = beginning asset + ending assets ÷ 2

= ($80 million + $88 million) ÷ 2

= $84 miiliom

Return on assets = $13.4 million ÷ $84 million

Return on assets = $159.52

2. Profit margin

= Net income ÷ Net sales

= $13.4 million ÷ $114 million

= 11.75%

3. Assets turnover ratio

= Net sales ÷ Average total assets.

Recall Average total assets = $84 million

Average turnover ratio

= $114 million ÷ $84 million

= 1.36 times

5 0
3 years ago
The actual interest rate on a loan that is compounded monthly but expressed as an annual rate is referred to as the _____ rate.
Brrunno [24]

annual percentage rate

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The annual interest produced by an amount that is paid to investors or levied to borrowers is referred to as the annual percentage rate (APR). APR is a percentage that expresses the real annual cost of borrowing money throughout the course of a loan or the revenue from an investment. This does not account for compounding and includes any fees or other expenditures related to the transaction.

To know more about annual percentage rate refer to brainly.com/question/26037117

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3 0
2 years ago
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