Answer:
The correct answer is A. The time value of money.
Explanation:
In economic theory, the temporary value of money is intended to represent the idea that a dollar of today is worth more than a dollar of the future, even after adjusting for inflation, because a dollar can now generate interest or other returns up to moment in which the dollar of the future is received. This theory is based on the calculation of present or current value.
If the demand for steak (a normal good) shifts to the left, the most likely reason is that consumer income has fallen.
<h3>What is a normal good?</h3>
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls.
The demand curve shows the relationship between price and quantity demanded. A shift to the left of the demand curve indicates that demand has decreased.
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Answer:
To enforce this promise we need to analyse whether there has been any agreement or contract between Sarah and Odessa and whether the same can be enforced.
Explanation:
In Sarah's case, her offer to gratuitously pay the neighbor for assisting in the house fire is not an enforceable contract. When the neighbor rushed to help in the fire, the offer to pay $1,000 had not yet been extended. When Sarah did extend the offer to pay $1,000, there was no consideration exchanged between both parties. The consideration, putting out the fire, had already occurred without the offer or acceptance of a contract.
Consider an alternate scenario. Sarah's house was on fire, and she could not wait for the fire department. She ran to her neighbor's house, begged for help, and offered $1,000 in exchange for neighbor's assistance. After hearing Sarah's plea, the neighbor agrees to assist in extinguishing the fire. This constitutes a contract; an offer, consideration, and acceptance.
The duration of Security P based on the info given will be 11 years.
<h3>How to calculate the time?</h3>
From the information given, Security P is a preferred stock and Security Z is a zero coupon bond that has 11 years remaining until maturity.
Therefore, the duration will be:
= (1 + y)/y
= (1 + 0.1)/0.1
= 1.1/0.1
= 11 years
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Answer:
$870
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Allowance for uncollectible accounts at 5%
= 5% * $302,000
= $1,510
Since the Allowance for Uncollectible Accounts was $640 (credit) before any adjustments, the bad debt expense for the year
= $1,510 - $640
= $870
