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alex41 [277]
3 years ago
9

The purpose of posting is to?

Business
2 answers:
makvit [3.9K]3 years ago
8 0
Update the account balances in the ledger.
Gnom [1K]3 years ago
4 0
Purpose of posting is to show changes that took place in the business account as a result of Financial transaction
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First Bank offers personal loans at 7.7 percent compounded monthly. Second Bank offers similar loans at 7.4percent compounded da
Korolek [52]

Answer:

The First Bank loan has an effective rate of 7.98 percent.

Explanation:

we calcualte the effective rate for both loand and check which statement is correct.

<u>First bank:</u>

(1+\frac{0.077}{12} )^{12} = 1 + r_e

(1+\frac{0.077}{12} )^{12} - 1 = r_e

     1.07977643  - 1 = 0.07977 = 7.98%

<u>Second bank:</u>

(1+\frac{0.074}{365} )^{365} = 1 + r_e

(1+\frac{0.077}{365} )^{365} - 1 = r_e

     1.076798729   - 1 = 0.076798729  = 7.68%

Notice tthis isthe effective rate not the annual percentage rate.

So only the statement abour the first bank effectibe rate is true.

7 0
4 years ago
Huprey Co. is the defendant in the following legal claims. For each of following claims, does Huprey (a) record a liability, (b)
salantis [7]

Answer:

1. Huprey can resonably estimate that a pending lawsuit will result in damages of $1,280,000, it is probable that Huprey will lose the case.

  • Record a liability.  

2. It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable.

  • Disclose in notes.

3. Huprey is being sued for damages of $2,400,000. It is very unlikely (remote) that Huprey will lose the case.

  • Have no disclosure.

Explanation:

Contingent liabilities must be recorded only when it is probable that the liability will happen and you can estimate the associated costs.

When contingent liabilities are only reasonably possible or you cannot estimate the amount, they must be included in the footnotes of the financial statements.

When contingent liabilities are not reasonably possible, nothing needs to be disclosed.

7 0
4 years ago
What is the logic behind co-locating purchasing personnel with internal customers?
almond37 [142]
There are certain advantages that the organization can understand from co-locating <span>purchasing personnel with internal customers</span>. The primary huge advantage is low expenses of task. In addition, the organization will give enhanced administrations to the organization since the organization will distribute to each customer a faculty in charge of giving them the administrations they require. This additionally has an arrangement of getting a great administration by the clients since they get customized treatments. The most noteworthy advantage related with this is the organization will improve its reputation and draw in various customers.
6 0
3 years ago
When each person specializes in producing the good in which he or she has a comparative advantage, total production in the econo
OLga [1]

Answer:

The correct answer is c) rises.

Explanation:

Each country in question will specialize in what is most efficient. At the same time, it will import the rest of the products in which they are most ineffective in terms of production. Although a country does not have an absolute advantage in producing any good, it may specialize in those goods in which it finds a greater comparative advantage and finally participate in the international market. In this sense, it can boost its foreign trade.

It is then the basic idea that countries choose to specialize in order to trade in activities where they have a certain advantage. That is, instead of producing what they do best in an absolute way, they produce what they do best in a relative way. Therefore, the difference with the theory of absolute advantage is that it does not produce what the country costs less, but the one with lower comparative costs.

7 0
3 years ago
In order to create a budget, you should _____.
True [87]
List your income and your assets and find the total. Iam not really sure that's the answer, but it sounds right.
5 0
3 years ago
Read 2 more answers
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