Money management refers to how you handle all aspects of your finances, from making a budget for where each paycheck goes to setting long-term goals to picking investments that will help you to reach those goals.
Answer and Explanation:
The journal entry is shown below:
Cash Dr 30,000
Bank Dr 50,000
To Capital 80,000
(Being cash and bank brought into the business)
Here the cash and bank is debited as it increased the assets and credited the capital as it also increased the equity
Answer:
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Answer:
The problem with variable rates is that they vary, i.e., they might unexpectedly increase and the increase might be pretty significant. One of the main factors leading to the Great Recession was the housing bubble and the increase in mortgage interest rates. Normally, interest rates tend to increase, they might sometimes decrease, but generally they only go up and up.
Even though the fixed interest rate might be higher, it will not change and that guarantees that you will always pay the same amount and that you can prepare your personal budget to cover it.
