The life insurance policy in which death benefits last a lifetime but premiums are all paid after a specified time period is a limited-pay whole life policy.
Answer: $10,746
Explanation:
Using Compound interest formula
A= p(1+r/n) *nt
A= final amount =?
P= initial principal =$8, 000
r = interest rate = 0.1
n= nob of times interest applied(3)
t=nob of times period elapsed (3)
A = 8,000 (1+0.1/3) *9
A = 8000 (3+0.1/3) *9
A= 8000 (3.1/3) *9
A = 8000 (1.0333) *9
A = 8000 × 1.34327
A= $10,746
Answer:
<em>Control</em>
Explanation:
The control cycle <em>is the incremental process in which tests are prepared, tracked, reviewed, and updated. </em>
The control cycle is widely used to continually monitor organizational expenditures and system flows.
The assumption when applying the control cycle to budgeting is that each subsequent iteration of the budget will be changed based on the information obtained when comparing the initial budget with actual results.
Answer:
A. Cash = 21% increase, A/R = 22% increase, Inventory = 17% decrease.
Explanation:
A base year can be described as a year that is used as a reference year for comparison with other years.
To calculate the percentage increase/decrease of each current asset amount of Homework American Corporation, the following formula is used suing Year 1 as the base year.
Percentage increase/decrease = [(Year 2 amount - Year 1 Amount) / Year 1 Amount] * 100 .............................. (1)
Using equation (1), we have:
Percentage increase/decrease in Cash = [($245.90 - $202.95) / $202.95] * 100 = [$42.95 / $202.95] * 100 = 0.21 * 100 = 21% increase
Percentage increase/decrease in Accounts Receivable (A/R) = [($485.34 - $398.02) / $398.02] * 100 = [$87.32 / $398.02] * 100 = 0.22 * 100 = 22% increase
Percentage increase/decrease in Inventory (A/R) = [($648.54 - $785.12) / $785.12] * 100 = [-$136.58 / $785.12] * 100 = -0.17 * 100 = 17%
Based on the calculations above, the correct option is e. A. Cash = 21% increase, A/R = 22% increase, Inventory = 17% decrease.
