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3 years ago

Choose the correct statement about audits of corporations:

1 answer:

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Answer:A. Public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP.

Explanation:GAAP(Generally accepted accounting principles) is a body saddled with the response of ensuring that financial statements are prepared based on certain principles which includes the following.

OBJECTIVITY, MATERIALITY, CONSISTENCY AND PRUDENCE. All public corporations (those whose stock are traded on exchanges) are subject to annual audit as to their compliance with GAAP which regulates Their Financial statement and reports.

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Which is not true of limits? Select one: a. Are the point where you should stop the negotiation b. Are also called resistance po

Rama09 [41]

Answer:

The correct answer is letter "B": They should be ignored in a bidding war.

Explanation:

Negotiations are vital in every aspect. They allow individuals to deal with situations in which parties need from each other but either of them is willing to take the first step to come to an agreement. Negotiations can also be useful out of problematic situations when parties voluntarily want to make a pact but the initial terms are unclear.

Placing limits for negotiations is important as well. Limits will prevent parties from giving to much of themselves or avoiding the other party to take advantage of a given situation. Thus, in front of war, limits must be placed in a negotiation.

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3 years ago

Describe what an insurance company does and sells without using the word insurance

Crank

If something goes wrong, the company will make sure you're not completely screwed.

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3 years ago

You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit

nordsb [41]

Answer:

a.) $217,298.44

b.) $253,514.84.

c.) $239,061.37 .

Explanation:

a. Determine how much you will have saved after 10 years

This is an ordinary annuity question and you are required to find the Future value (FV) at year 10. Using a financial calculator, key in the following inputs;

Total duration of investment; N = 10

Recurring payment; PMT = -15,000

Interest rate ; I/Y = 8%

PV = 0

then compute Future value; CPT FV = 217,298.437

Therefore, in 10 years, you will have saved $217,298.44 which does not meet your goal of half a million dollars.

b. Determine the amount saved if you were able to deposit $17, 500 each year.

With the recurring payment increasing to 17,500 per year and the interest rate remaining at 8%, find the new Future value by keying in the following inputs;

Recurring payment; PMT = - 17,500

Interest rate ; I/Y = 8%

Total duration of investment; N = 10

PV = 0

then compute Future value; CPT FV = 253,514.843

Therefore, in 10 years, you will have saved $253,514.84.

c. Determine the amount saved if you deposit $15,000 each year, but with 10 percent interest.

It is still an ordinary annuity question , however, the recurring payment(PMT) will be 15,000 as before but with an annual interest rate(I/Y) of 10%. Using a financial calculator, key in the following inputs;

Total duration of investment; N = 10

Recurring payment; PMT = -15,000

Interest rate ; I/Y = 10%

PV = 0

then compute Future value; CPT FV = 239,061.369

Therefore, in 10 years, you will have saved $239,061.37 .

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3 years ago

Which of the following, identified in an analysis of the general environment, is an opportunity for an entrepreneur who wishes t

kvasek [131]

Answer:

a. The average age of the population in his community is high.

Explanation:

As the average age of the population in his community is high, it is an opportunity for an entrepreneur who wishes to open a business providing "Fitness for Life" physical conditioning services (strength, balance, and flexibility training) in a city of 100,000 people because people will be more interested in the physical conditioning services and they will be attracted towards it as when the age rises, people become more interested in the health related activities, therefore, chances are very high that this will pose a serious and profitable opportunity for the entrepreneur in that particular city. He or she can definitely capture this opportunity very handsomely and profitably.

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3 years ago

Duerr Company makes a $69,000, 30-day, 10% cash loan to Ryan Company. The note and interest to be collected at maturity is: (Use

Dimas [21]

Answer:

the journal entry to record the loan:

E.g. January 1, 202x, loan made to Ryan Company

Dr Notes receivable 69,000

Cr Cash 69,000

the journal entry to record the collection of the note:

E.g. January 31, 202x, note collected from Ryan Company

Dr Cash 69,575

Cr Notes receivable 69,000

Cr interest revenue 575

interest revenue = $69,000 x 10% x 30/360 = $575

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3 years ago