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3 years ago

Small businesses must hire professional finance managers to manage their income and expenses. True or False

Business

2 answers:

Aleksandr [31]3 years ago

7 0

True; not must, but highly recommended.

lawyer [7]3 years ago

7 0

Answer:

True.

Explanation:

The Financial Manager is the professional responsible for managing taxes, forming the sale price, auditing, controlling accounts payable, controlling financial investments, controlling bank balances, managing cash flow and analyzing financial statements.

A Financial Manager manages, plans and organizes the company's controllership activities, observing legal principles, policies and guidelines adopted, to define forms of budgetary, accounting and financial control.

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Assume that the following events occurred at a division of Generic Electric for March of the current year:

stiks02 [169]

Answer:

Transferred in Manufacturing Costs $ 32,000,000

Transferred out $ 20,800,000

Ending Balance $ 11,200,000

Explanation:

Generic Electric

Material Purchases $ 15,000,000

Transferred to Work in Process = 10,500,000

Direct Labor $ 8,000,000

Manufacturing Overhead $ 13,500,000

Total Manufacturing Costs $ 36,500,000

Transferred in Manufacturing Costs $ 32,000,000

Completed 65 % of $ 32,000,000=$ 20,800,000

Transferred out $ 20,800,000

Ending Balance = $ 32,000,000-$ 20,800,000= $ 11,200,000

5 0

3 years ago

Leigh Delight Candy, Inc. is choosing between two bonds in which to invest their cash. One is being offered from Hershey's and w

Firlakuza [10]

Answer:

Hersey's bond = $1125.513

Mars bond = $1172.259

Explanation:

Hersey bond;

Period(t) = 10years = 40(quartely)

Coupon (C) = $30

Rate (r) = 0.1 = 0.025(quarterly)

Pay at maturity(p) = $1000

Using the both present value (PV) and compound interest formula ;

PV =[ C × (1 - (1+r)^-t) ÷ r] + [p ÷ (1 + r)^t]

PV = [30×(1-(1.025)^-40)÷0.025] + [1000÷(1.025)^40]

PV =( 753.083251562) + (372.4306236)

PV = $1125.513

Mars bond;

Period(t) = 20years = 80(quartely)

Coupon (C) = $30

Rate (r) = 0.1 = 0.025(quarterly)

Pay at maturity(p) = $1000

PV =[ C × (1 - (1+r)^-t) ÷ r] + [p ÷ (1 + r)^t]

PV = [30×(1-(1.025)^-80)÷0.025] + [1000÷(1.025)^80]

PV =(1033.55451663) + (138.704569467)

PV = $1172.259

5 0

3 years ago

You just got your first job and they offer a retirement plan where they will match untaxed wages. Would you take advantage of th

Vadim26 [7]

I honestly don't even know I'm just commenting stuff so I can get points so I can ask questions

8 0

3 years ago

Advertisements that create feelings, meanings, images, or beliefs about a product or service that can be activated when consumer

levacccp [35]

Advertisements that create feelings, meanings, images, or beliefs about a product or service that can be activated when consumers use it are known as transformational ads.

Explanation:

Advertisements that create feelings, meanings, images, or beliefs about a product or service that can be activated when consumers use it are known as transformational ads.
A transformational advertisement is the one which is related to the experience of using the advertised brand with a unique set of psychological characteristics.
It would not typically be associated with the brand experience to the same degree without the exposure to the advertisement of a brand.
Transformational ads actually create an aura which is truly an exception to a brand.
The types of advertising are;
display ads, social media ads,
newspapers and magazines,
outdoor advertising, radio and podcasts,
direct mail,
video ads,
Email Marketing

6 0

3 years ago

On june 1, you borrowed $295,000 to buy a house. the mortgage rate is 4.25 percent. the loan is to be repaid in equal monthly pa

Aleksandr-060686 [28]

Answer: The amount applied to the principal balance is <u>$1174.43</u>.

We first calculate the Equated Monthly Instalment (EMI) of the loan by using the following formula:

$\mathbf{PV = EMI * \left [\frac{1-(1+r)^{-n}}{r} \right]}$

where

r = Interest rate per period ; n = number of periods

$r = \frac{0.0425}{12}$

$n = 15 * 12 = 180$

Substituting these in the formula above we get,

$\mathbf{295000 = EMI * \left [\frac{1-(1+\frac{0.0425}{12})^{-180}}{\frac{0.0425}{12}}\right]}$

Solving we get,

$\mathbf{295000 = EMI * 132.9295092}$

$\mathbf{EMI = \frac{295000}{132.9295092}}$

$\mathbf{EMI = 2219.221313}$

Once we get the EMI, we calculate the amount that applies to the principal balance as follows:

Interest is calculated on the outstanding balance of each month. In the first month, the entire principal in outstanding. Hence we calculate interest on $295,000.

$\mathbf{Interest = 295000 * 0.003541667 = 1044.791667}$

$\mathbf{Amount applied to principal = EMI - Interest in dollars}$

$\mathbf{Amount applied to principal = 2219.221313 - 1044.791667 = 1174.429646}$

6 0

3 years ago