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4 years ago

Which sentences in the passage demonstrate the fulfillment of the legal responsibilities of a financial exchange?

Business

1 answer:

AleksandrR [38]4 years ago

6 0

The following statements fulfill the criteria.

Explanation:

- She issues an account statement annually that lists all the transactions made through a customer’s account that year.

This is her responsibility to keep a record of the transactions and make them available.

-She allows customers to withdraw money only if the institution has sufficient cash reserves during the day.

This is also following standard policy of the company

-She provides details to customers regarding the money deposited in their accounts.

This is also in terms with the privacy policy of most firms for consumers to have this information.

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What divides the system into a set of functional units that can be used independently or combined with other modules for increas

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The modular design divides the system into a set of functional units that can be used independently or combined with other modules for increased business flexibility. The system's components may be separated and recombined with the help of this design. The goal is better results (profit) and efficiency.

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4 years ago

Suppose there are two classes, with 30 students in each class. in both classes, the students are individually playing little pig

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3 years ago

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3 years ago

Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occur

abruzzese [7]

Answer:

Kiona Co.

Journal Entries:

May 1:

Debit Petty Cash Fund $300

Credit Cash Account $300

To record the establishment of the petty cash fund.

May 15:

Debit Janitorial Services $93.60

Debit Miscellaneous Expenses $76.41

Debit Office Supplies $52.20

Debit Advertisement $68.58

Credit Petty Cash Fund $290.79

May 15:

Debit Petty Cash Fund $290.79

Credit Cash Account $290.79

To record the replenishment of the fund.

Debit Cash Account $13.80

Credit Surplus Cash $13.80

To record the excess cash counted.

May 16:

Debit Petty Cash Fund $200

Credit Cash Account $200

To record the increase of the fund to $500.

May 31:

Debit Office Stationery $53.73

Debit Transport $42.78

Debit Delivery Expense $44.17

Credit Petty Cash Fund $140.68

May 31:

Debit Petty Cash Fund $140.68

Credit Cash Account $140.68

To replenish the petty cash fund.

Debit Cash Account $50

Credit Petty Cash Fund $50

To record the reduction of the petty cash fund by $50.

Explanation:

A Petty Cash Fund is a system for meeting small-ticket expenses, by the use of the float system. This implies that the petty cashier is only reimbursed for actual expenditure in order to restore the float to the established amount.

4 0

4 years ago

Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remainin

navik [9.2K]

Answer:

(a) 0.7

(b) 3.33

(d) -$147

(e) -$1 trillion

Explanation:

(a) Marginal propensity to consume (MPC) = 0.7

(b) Multiplier of this economy:

$=\frac{1}{1-MPC}$

$=\frac{1}{1-0.7}$

= 3.33

Initial change in consumption = Change in government purchases × MPC

= $300 × 0.7

= -$210 billion

(d) This decreases income yet again, causing a second change in consumption equal to:

= Initial change in consumption × MPC

= -$210 × 0.7

= -$147 billion

(e) The total change in demand resulting from the initial change in government spending is:

= Change in government purchases × Multiplier

= $300 × 3.33

= -$1 trillion

7 0

3 years ago