Answer:
$575.82.
Explanation:
Since Thomas owes $ 438 on his credit card, but only paid the minimum of $ 20, his debt is now $ 418 (438 - 20). A late fee of $ 39 will be added to this value, which will raise said sum to $ 457 (418 + 39). In turn, the interest rate for unpaid card balances is 26% per month. Therefore, next month his balance will be $ 575.82 (457 x 1.26).
Answer:
B. In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales.
Explanation:
JIT stands for Just in time management. It is an inventory management approach that advocates for the purchase of materials just when they are needed for production. In JIT, there is no storing of materials for use for future production. The purchase of materials is aligned with the production process.
The success of JIT is dependent on management ability to forecast sales volumes accurately. Management must work with reliable suppliers to ensure that materials are available when required. JIT lower's the cost of inventory management by eliminating the need to store huge quantities of materials. It reduces wastage by doing away with losses that arise due to the storage of bulk materials.
Answer:
The correct answer is B. Accounting firms are prohibited from providing many types of consulting services to the companies they audit.
Explanation:
The main reason for this policy is that it does not allow conflicts of interest to arise that eventually produce widely known cases of fraud, such as those presented at the Enron and Worldcom companies.
The Enron case broke out in the U.S. when that energy giant announced what was once the biggest bankruptcy in the history of the country, with a debt of 31,000 million dollars, something overcome a few months later by the collapse of another colossus, WorldCom.
In June 2002 WorldCom, the second US telephone. and of the world, he admitted that he had lied in his accounting books for almost 4,000 million dollars and his actions - which shortly before touched his maximum of 16 dollars - collapsed to 20 cents. His bankruptcy exceeded Enron's: $ 35 billion of liabilities.
Answer:
MATCHED
Explanation:
TOOK THE TEST
"Expenses should be matched with revenues. A deferred expense or prepayment, prepaid expense, is an asset representing cash paid out to a counterpart for goods or services to be received in a later accounting period."
Answer:
Sell 1,000 shares of XXYZZ and buy 10 XYZZ put contracts
Explanation:
In the stock markets a bullish trend is when the price of the stock increases, while a bearish market is when the stock price decreases.
In this scenario the customer owns 1,000 shares of stock XYZZ stock that have been in a bullish trend rising from $40 to $45.
Usually a bullish trend is followed by a bearish trend.
If the customer is sure there will be a bear on the stock them he should sell or make a put trade.
On sale of the 1,000 shares the customer will make $5 per share, and enter a put option since the market is going bearish.
