Answer:
The answer is 8 years
Explanation:
FV= PV(1+r)^n
Where
PV= let's assume PV is $100
FV = Since FV will be doubled, the we have $200($100 x 2)
n= ?
r= 9percent
Let us use the rule of 72 which states that an investment will double when:
Annual Investment Rate x Number of Years = 72.
Number of years = 72/9
= 8 years
The investment is doubled in 8 years at the rate of 9percent
Because when you are asking somebody, you need to be informed about the object and most objects involve science.
hope this helped :)
Answer: Debit Notes Receivable $10,400; credit Accounts Receivable $10,400.
Explanation:
Mifflin Company is receiving the note back from Payton Summers which means that Payton Summers intends to settle their account. The correct entry to record therefore is one that closes off the Notes Receivable account by debiting it as it was on a credit balance.
The other account would be the Accounts Receivable account which would need to be credited by the amount owed to close off the account as it was on a debit balance as Accounts Receivables are when customers are still owing.
Answer:
C. freely operating economy in which all markets are perfectly competitive.
Explanation:
When we have a lot of producers and many consumers in an economy, the best way to achieve an efficient allocation of resources is to have a freely operating economy in which all markets are perfectly competitive.
- In such a free economy, demand for goods and services are not controlled.
- The consumers behavior towards purchasing will determine if producers should allocate more resources to a production process or not.
- It is better to make such market competitive without interfering into how resources are managed and dispensed.
Answer:
1. Lack of ownership
2. Higher taxation
3. Legalities and formalities
Explanation:
An incorporated company is one that has a separate legal entity from that of its owner and shareholders. Disadvantages of an incorporated company include:
- <em>Lack of ownership</em>
An incorporated business is a separate entity from its owner. Hence, separate bank accounts would be required along with separate business identification since personal identification would not be sufficient. At the same time, personal funds must be kept separate from business funds. Mixture of the two is an offense against the law. Also, as shareholders are involved, they may have voting rights, hence, the owner will not have a complete say in all business activities.
Incorporated companies are expected to pay higher taxes whilst others may have minimum taxable limits. The owner will have to pay income tax as well as corporate taxes. They will also accumulate other expenses such as accounts and legal fees whilst processing these complex taxation methods.
- <em>Legalities and formalities</em>
Incorporating a business in itself requires complex procedures and a lot of paperwork. After this has been accomplished, the company is still expected to follow strict codes of conduct such as those provided by the Companies Act. This would include the way borrowings and lending occur, investments, dividend provisions, meetings and audits. They will also have to register documents under the Registrar of Companies.
