Answer:
$1,073.60
Explanation:
bond's current price = PV of face value + PV of coupons
maturity = 10 years
face value = $1,000
coupon rate = 7% annual
market rate = 6%
PV of face value = $1,000 / (1 + 6%)¹⁰ =$558.39
PV of coupons = coupon x annuity factor (10 years, 6%) = $70 x 7.3601 = $515.21
market value at issue date = $558.39 + $515.21 = $1,073.60
since the bond's coupon rate was higher than the market rate, the bond was sold at a premium.
In the study of internal control, the auditor uses sampling to compare the adjusted estimate of the deviation rate to the tolerable rate of deviation.
How Do Internal Controls Work?
A plan of structure, processes, and records that are concerned with the security of assets and the accuracy of financial records are together referred to as internal controls.
Fundamentals of Internal Control Systems
A firm's unique information requirements should be taken into account when designing an internal control system. As a result, the system might be anything from a straightforward manual system to a sophisticated computerized online system with remote terminals dispersed all over the nation. The accounting system must process data effectively, precisely, and promptly whether it is electronic or manual. An internal control system that has been carefully thought out is at the core of any well-designed accounting system.
Protecting the assets under management's control is one of their main duties.
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Answer:
price fixing
Explanation:
The collusion occurs when firms agree to collaborate in a way that disrupt markets such as fixing prices above the actual price to alter the equilibrium of the market
True, usually the earlier you invest the more money you will get later down the road.
Answer:
The correct answer is: amount consumed out of an additional dollar of income.
Explanation:
The marginal propensity to consume is a measure to show the increase in consumption of goods and services due to an increase in the disposable income of the consumer.
It is measured by the ratio of change in consumption and change in income. It can also be calculated as 1 - MPS, where MPS is the marginal propensity to save. In other words, MPS is the ratio of change in savings and change in income.
