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Free_Kalibri [48]
3 years ago
7

Susie buys a share of Alphabet stock through her broker, Mr. Diaz, who works for Acme Investing and purchases the stock at the N

ew York Stock Exchange. In this transaction, __________ is a financial instrument, __________ is a financial institution, and __________ represents a financial market.
Business
1 answer:
Andrew [12]3 years ago
6 0

Answer:

Alphabet stock; Acme Investing; New York Stock Exchange.

Explanation:

Susie buys a share of Alphabet stock through her broker, Mr. Diaz, who works for Acme Investing and purchases the stock at the New York Stock Exchange. In this transaction, Alphabet stock is a financial instrument, Acme Investing is a financial institution, and New York Stock Exchange represents a financial market.

Financial instruments can be defined as assets which are having monetary value or used to record a monetary transaction. Financial instruments are generally classified on the basis of their risks, maturity, issuers etc. Some examples of financial instruments are stocks, treasury bills, commercial paper, money market mutual fund, certificate of deposits, corporate bonds etc. The market where these financial instruments (securities and derivatives) are being traded at a low transaction rate is referred to as the financial market.

Furthermore, financial institutions can be defined as a business firm or company that is involved in the business of trading financial instruments.

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Shmenson Company uses the periodic inventory system. Sales for 2020 were $470,000 while operating expenses were $175,000. Beginn
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Answer:

The net income  for 2020 was $90,000

Explanation:

Shmenson Company

Income Statement for the year ended 2020

Sales                                                                             $470,000

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Add Freight In                                         $15,000

Less Ending Inventories                      ($60,000)     ($205,000)

Gross Profit                                                                  $265,000

Less Expenses

Operating expenses                                                   ($175,000)

Net Income                                                                    $90,000

Conclusion

Thus, the net income  for 2020 was $90,000.

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