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Elden [556K]
3 years ago
13

Which of the following is true of both paying with a check and paying with a debit card? A. Both work like a loan from your bank

that you can pay back later. B. When used, both take money directly out of a bank account. C. A personal identification number must be anytime checks or debit cards are used. D. Both are accepted by most people and most businesses?
Business
1 answer:
Sedaia [141]3 years ago
7 0
<span> B. When used, both take money directly out of a bank account.</span>
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All of the following are the types of term insurance depending on how the face amount changes during the policy term EXCEPT (Cho
grigory [225]

Answer:

1- Increasing

Explanation:

Term insurance is kind of a life insurance which during a specified term promises payment in case of death and when that specified term comes to an end it can be renewed (renewable term), terminated or made permanent. There are three types of term insurances.

- Renewable

- Decreasing

- Level

There is no such policy as Increasing under term insurances.

Under renewable term insurance the insurer can renew on a yearly basis without specifying specific term.

Under decreasing term insurance the insurer pays a fixed amount for the duration of the policy. The coverage of this life insurance policy declines at a predetermined rate over the life of the policy that's why the name decreasing.

Under Level term insurance the insurer also pays a fixed amount and policies under this insurance type cover a period, mostly between ten to thirty years.

6 0
3 years ago
What is the present value on January 1, 2016, of $30,000 due on January 1, 2021, and discounted at 12% compounded annually?What
ale4655 [162]

Answer:

1. Future Value = 30,000

Rate = 0.12

Annual period, NPER = 5

Present value, PV = PV(0.12, 5,0,-30,000 ,0)

Present value, PV = $17,022.81

2. Future value = 8,000

Quarterly rate = 16%/4 = 4%

Number of quarters, Nper = 4.5*4 = 18

Present value, PV = PV (4% , 18, 0, -8,000 , 0)

Present value, PV = $3,949.02

3. Future value = 8,000

Annual rate = 0.1

Annual period, Nper = 5

Present value, PV = PV(0.1, 5, 0, -8000, 0)

Present value, PV = $4,967.37

Present value Discount = 8,000 - 4,967.37

Present value Discount = $3,032.63

5 0
3 years ago
Read 2 more answers
The reporting of financial conditions at the corporation so that can be evaluated. b. Legal protections for shareholders so that
gogolik [260]

Answer:

a) Financial Statements

b) Limited Liability

Explanation:

a) The reporting of financial conditions at the corporation so that it can be evaluated, is the aim of preparing <em>financial statements. </em>Financial statements<em> </em>are periodic reports prepared monthly or annually to show the financial health of a company. They are made up of the statement of profit or loss, statement of financial position, cash flow statements and statement of changes in equity.

b) Legal protections for shareholders so that they are not taken advantage of is the purpose of limiting the liability of shareholders. Limited liability relates to a shareholder's financial liability being limited to a fixed amount not exceeding his investment in the company or partnership. Nevertheless every shareholders is liable for his own actions personally.

6 0
2 years ago
On June 1, 2022, Elite Service Co. was started with an initial investment in the company of $22,100 cash. Here are the assets, l
Helen [10]

Question Completion:

Cash                         $ 4,600

Accounts receivable   4,000

Supplies                      2,400  

Equipment               26,000

Total assets          $37,000

Notes payable       $12,000

Accounts payable        500

Service revenue       7,500

Supplies expense    1,000  

Maintenance and repairs expense  600

Advertising expense  400  

Utilities expense  300

Salaries and wages expense  1,400

Common stock  22,100

In June, the company issues no additional stock but paid dividends of $1,400.

Prepare an income statement, retained earnings statement, and balance sheet.

Check figures:

·         Net income is $3,800.

·         Total assets are $37,000.

·         Total liabilities are $12,500.

Answer:

Elite Service Co.

a) Income Statement for the month of June 30, 2022:

Service revenue                                         $7,500

Supplies expense                           $1,000  

Maintenance and repairs expense    600

Advertising expense                          400  

Utilities expense                                300

Salaries and wages expense         1,400   3,700

Net Income                                              $3,800

b) Retained Earnings Statement for the month of June 30, 2022:

Net Income                     $3,800

Dividends paid                  1,400

Retained Earnings         $2,400

c) Balance Sheet as of June 30, 2022:

Cash                                   $ 4,600

Accounts receivable             4,000

Supplies                                2,400  

Equipment                         26,000

Total assets                    $37,000

Notes payable                 $12,000

Accounts payable                  500

Total liabilities                $12,500

Common stock                 22,100

Retained Earnings          $2,400

Total liabilities + Equity $37,000

Explanation:

Data and Calculations:

Cash                         $ 4,600

Accounts receivable   4,000

Supplies                      2,400  

Equipment               26,000

Total assets          $37,000

Notes payable       $12,000

Accounts payable        500

Common stock       22,100

3 0
2 years ago
Three accuracy problems with the consumer price index (CPI) are Group of answer choices price confusion, substitution, and quali
vredina [299]

Answer:

Option b (Substitution.....services) is the appropriate choice.

Explanation:

  • The above leads to calculating difficulties as well as the failure throughout the Index to identify better products and services contributing to less precise inflation outcomes.
  • It does not take account of the replacement facilities, which arise when an increase throughout the price of one promising recommendation to a replacement including its good by another, which often increases the costs of one quality.

The other options are not related to the given scenario. So the above is the correct choice.

7 0
3 years ago
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