Answer: Business process re-engineering
Explanation: In simple words, business process re-engineering refers to the process in which an organisation tries to restructure and change the process or methods of operations for smooth functioning of the business.
It is modern technique that are used by the firms in the industries which have high competition and are strongly interdependent on other firms in the industry.
Answer:
The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.
Explanation:
Financial institutions is a company or a firm that deals with financial and monetary activities such as; loans, deposits, investments and currency exchange. Most financial transactions especially loans and savings usually have an interest rate that is set by the financial institution. The amount of interest can be paid by the borrower in a case where an individual takes a loan from the financial institution. Interest can also be paid by the financial institution in a case where the individual or group opens a savings account with the financial institution. In both cases, the interest rate is set by the financial institution. The amount of interest payable can be determined using the formula below;
A=PRT
where;
A=amount of interest payable
P=principle amount. The principal amount can either be the loan amount or the savings deposit amount
R=interest rate
T=number of years
The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.
Answer:
salaries expense 81,000 debit
salaries payable 81,000 credit
Explanation:
the recurrring salaries for a biwweekly salaries is 270,000
In two weaks assuming five-day work week, there is 10 days.
so we divide to get the expected wages per day the recurring salaries by the amount of days of that period:
270,000 / 10 = 27,000 per day
Then, we multiply by the 3 days from the current period:
27,000 x 3 = <u>81,000</u>
this will be the accrued expenses for the period
