Answer:
C) USD 8,000
Explanation:
Excess credits can be transferred back one year and can be moved ten years, or a sum of 11 (eleven) years. The credits that are anticipated to be not used are USD 16,000 So,
= ((USD 30,000 - (USD 2,000 × 11)).
= USD 8000/-
<span>A healthy inflation rate that federal officials for spending business investment and higher wages is 2%. 2% is the most consistent value over the years. If there is a drop it is considered possible drop to deflation. Increase will make long-term decisions questionable.</span>
Answer:
Credit card bills must be mailed at least 21 days ahead of their due dates.
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
CARD is an acronym for Card Accountability Responsibility and Disclosure and it is an act (federal statute) signed by President Barack Obama on the 22nd of May, 2009 after it was passed by the Congress of the United States of America.
A provision of the CARD Act is that, Credit card bills must be mailed at least 21 days ahead of their due dates so as to avail the card holders (users) an ample amount time to pay from the time it was mailed.
Answer:
Net income is the amount of money the business has earned after paying taxes
Answer:
Option D. The deposits in transit are added to the balance per the bank statement, and outstanding checks are deducted from the balance per the bank statement during the bank reconciliation process.
Explanation:
The reason is that the bank balance as per business books are kept updated according to their knowledge of the transaction verified and bank keeps its business books updated according to its knowledge of the verified transactions.
When the customer presents the check to the business, the business increases its bank balance as per its books and at this point the bank doesn't know whether there is any monetary transaction actually taken place or not. So the bank hasn't altered the business bank balance in their books of accounts. This means the bank is overstated by the deposit in transit and for reconciliation sake we will have to add it to balance as per bank to tally it with the balance as per the business.
Similarly the Outstanding checks which is also known as unpresented checks are the money not yet withdrawn from the business bank account but is actually deducted from the bank balance as per the business books because the payments that the business makes actually records it. This means that the bank balance as per business books are lower than the balance as per the bank and for reconciliation sake we will have to deduct it from the balance as per bank to tally it with the balance as per the business.
