Answer:
C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days
<u>Multiple- choices</u>
A). You have to earn at least $100,000 in salary to be allowed to buy a CD
B). It is just a different name for a savings account
C). It requires that the funds be kept in the account for a minimum fixed period of time e.g. 90 days
D). Only large banks offer them
Explanation:
Banks and other financial institution offer certificates of deposit (CD) saving account to customers who intend to limit the number of withdraws. This type of savings account pays a higher interest rate than the regular savings account. A customer wishing to open this account agrees with the bank on the duration that they want to save the money. Withdrawals can only be made after the agreed period lapses. Should the customer demand for their money before the end of the agreed period, they may get penalized by the banks.
Answer:
a) $200,000 to Jack
Explanation:
Data provided in the question
Life insurance policy amount of Marilyn Simms = $200,000
The primary beneficiary = Jack
The contingent beneficiaries = Their children
Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,
So, the whole amount i.e $200,000 is distributed to Jack
Answer: Option C
Explanation: In simple words, revenue variance refers to the difference between the revenue one expects to earn as per the budget made for a specified period of time and the revenue it actually earned in that time.
Organisations calculate revenue variance to identify the reasons they are not performing well or the qualities they are performing more than expected.
This measure helps organisation in decision making as to whether they should make changes in their process, and if so then wheat changes, or should remain as they are.
Answer:
a. Profit(loss) = Total revenue - Total expenses
= 131,000 - 90,500
= $41,000
The company did in fact generate<u> profit of $41,000 </u>and this can be shown from the Income Statement which is where profit or loss is calculated.
b. A company uses its assets to pay off its liabilities so if the liabilities are less than the assets then the company is capable of paying off its liabilities:
Assets = Cash + Accounts Receivable + Supplies
= 30,800 + 25,300 + 40,700
= $96,800
Liabilities are just the Accounts Payable of $25,700.
<em>Liabilities are less than Assets so Miami Music does indeed have sufficient resources to pay its liabilities. </em>
This information comes from the <u>Balance Sheet</u> which is where assets and liabilities are shown.
Answer: b. $188,800 Blackwelder Company will allocates $188,800 to desk lamp production if the actual direct hours is 118,000.
We have the following:
Total Plant Overhead = $640,000
Total Estimated Direct labour hours = 400,000 hours
Actual labour hours for desk lamp = 118, 000 hours
![Factory overhead allocated = Overhead allocation Rate * Actual labour hours [/tex] [tex] Factory overhead allocated = $188,800 (1.6 * 118,000)](https://tex.z-dn.net/?f=%20Factory%20overhead%20allocated%20%3D%20Overhead%20allocation%20Rate%20%2A%20Actual%20labour%20hours%20%5B%2Ftex%3C%2Fstrong%3E%5D%3C%2Fp%3E%20%3Cp%3E%3Cstrong%3E%5Btex%5D%20Factory%20overhead%20allocated%20%3D%20%24188%2C800%20%281.6%20%2A%20118%2C000%29%20)
